Arete Wealth Advisors LLC Increases Stake in Resources Connection, Inc. (NASDAQ:RGP)

Arete Wealth Advisors LLC increased its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 32.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,877 shares of the company’s stock after buying an additional 4,418 shares during the period. Arete Wealth Advisors LLC owned about 0.05% of Resources Connection worth $173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Resources Connection by 883.5% in the second quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after buying an additional 3,048 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Resources Connection by 66.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock valued at $28,000 after acquiring an additional 1,019 shares during the last quarter. Access Investment Management LLC raised its position in shares of Resources Connection by 50.5% during the 2nd quarter. Access Investment Management LLC now owns 132,555 shares of the company’s stock worth $1,463,000 after acquiring an additional 44,475 shares in the last quarter. WBI Investments LLC purchased a new stake in Resources Connection during the second quarter worth approximately $293,000. Finally, Victory Capital Management Inc. boosted its holdings in Resources Connection by 13.8% in the second quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Trading Down 1.7 %

RGP stock opened at $8.61 on Friday. The stock has a market cap of $288.19 million, a P/E ratio of 23.92, a PEG ratio of 3.56 and a beta of 0.68. Resources Connection, Inc. has a twelve month low of $7.90 and a twelve month high of $14.63. The company’s 50 day moving average is $8.45 and its two-hundred day moving average is $9.72.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Resources Connection’s revenue was down 19.5% compared to the same quarter last year. On average, equities research analysts predict that Resources Connection, Inc. will post 0.16 earnings per share for the current year.

Resources Connection Dividend Announcement

The company 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 dividend of $0.14 per share. The ex-dividend date is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 6.50%. Resources Connection’s dividend payout ratio is presently 155.56%.

Resources Connection 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.