SG Americas Securities LLC grew its holdings in shares of Resources Connection, Inc. (NASDAQ:RECN) by 75.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,666 shares of the business services provider’s stock after acquiring an additional 5,002 shares during the quarter. SG Americas Securities LLC’s holdings in Resources Connection were worth $197,000 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 RECN. Victory Capital Management Inc. acquired a new position in Resources Connection during the first quarter worth $917,000. Prudential Financial Inc. raised its stake in Resources Connection by 64.3% during the first quarter. Prudential Financial Inc. now owns 120,980 shares of the business services provider’s stock worth $1,959,000 after acquiring an additional 47,360 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Resources Connection by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 386,379 shares of the business services provider’s stock worth $6,260,000 after acquiring an additional 19,101 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Resources Connection by 103.8% during the first quarter. Thrivent Financial for Lutherans now owns 35,576 shares of the business services provider’s stock worth $576,000 after acquiring an additional 18,122 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Resources Connection by 2.2% during the first quarter. Northern Trust Corp now owns 389,118 shares of the business services provider’s stock worth $6,305,000 after acquiring an additional 8,433 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Shares of RECN stock opened at $16.50 on Friday. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.23. The firm has a market cap of $530.74 million, a PE ratio of 16.84 and a beta of 1.07. Resources Connection, Inc. has a 52 week low of $13.20 and a 52 week high of $17.95.

Resources Connection (NASDAQ:RECN) last announced its earnings results on Wednesday, July 18th. The business services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $180.05 million. Resources Connection had a return on equity of 10.03% and a net margin of 2.88%. Resources Connection’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 EPS. equities analysts predict that Resources Connection, Inc. will post 0.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Stockholders of record on Thursday, August 23rd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, August 22nd. This is a boost from Resources Connection’s previous quarterly dividend of $0.12. Resources Connection’s dividend payout ratio is presently 53.06%.

Several analysts have recently commented on RECN shares. TheStreet upgraded Resources Connection from a “c+” rating to a “b-” rating in a report on Monday, July 2nd. ValuEngine upgraded Resources Connection from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. BidaskClub cut Resources Connection from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. Finally, Zacks Investment Research cut Resources Connection from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Resources Connection currently has a consensus rating of “Hold” and a consensus price target of $16.00.

About Resources Connection

Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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