Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lessened its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 555,737 shares of the company’s stock after selling 18,099 shares during the period. Invenomic Capital Management LP owned 1.66% of Resources Connection worth $5,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jacobs Levy Equity Management Inc. raised its position in shares of Resources Connection by 5.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 573,235 shares of the company’s stock worth $5,560,000 after acquiring an additional 29,969 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Resources Connection by 4.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock worth $8,154,000 after buying an additional 34,570 shares during the period. Centiva Capital LP acquired a new position in Resources Connection during the third quarter worth approximately $299,000. Circumference Group LLC increased its position in Resources Connection by 16.4% during the third quarter. Circumference Group LLC now owns 815,000 shares of the company’s stock worth $7,906,000 after buying an additional 115,000 shares during the period. Finally, Verition Fund Management LLC increased its position in Resources Connection by 32.1% during the third quarter. Verition Fund Management LLC now owns 33,361 shares of the company’s stock worth $324,000 after buying an additional 8,113 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Down 0.4 %

RGP opened at $8.51 on Tuesday. The firm has a market cap of $284.83 million, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.68. Resources Connection, Inc. has a 52 week low of $7.90 and a 52 week high of $14.63. The business’s 50 day moving average is $8.56 and its two-hundred day moving average is $9.89.

Resources Connection (NASDAQ:RGP) last released its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The company had revenue of $136.94 million during the quarter, compared to analyst estimates of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. Equities analysts expect that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.14 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.58%. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

Resources Connection Company Profile

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.