Tieton Capital Management LLC Buys New Shares in Resources Connection, Inc. $RGP

Tieton Capital Management LLC acquired a new stake in Resources Connection, Inc. (NASDAQ:RGP) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,817,636 shares of the company’s stock, valued at approximately $11,975,000. Resources Connection accounts for approximately 3.4% of Tieton Capital Management LLC’s portfolio, making the stock its 10th largest holding. Tieton Capital Management LLC owned approximately 0.08% of Resources Connection at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RGP. Eurizon Capital SGR S.p.A. purchased a new position in Resources Connection in the 4th quarter worth approximately $31,000. Intesa Sanpaolo Wealth Management purchased a new stake in Resources Connection in the fourth quarter worth about $33,000. DGS Capital Management LLC bought a new position in shares of Resources Connection during the first quarter valued at approximately $44,000. Strs Ohio purchased a new stake in shares of Resources Connection in the 1st quarter worth approximately $48,000. Finally, Quarry LP increased its position in Resources Connection by 4,995.7% during the 3rd quarter. Quarry LP now owns 9,529 shares of the company’s stock valued at $48,000 after buying an additional 9,342 shares in the last quarter. Institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Up 3.3%

Resources Connection stock opened at $4.42 on Thursday. The company has a market cap of $152.22 million, a PE ratio of -3.68 and a beta of 0.54. Resources Connection, Inc. has a twelve month low of $3.06 and a twelve month high of $5.55. The company’s 50-day moving average price is $4.35 and its 200-day moving average price is $4.14.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $106.11 million during the quarter, compared to analyst estimates of $106.76 million. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. As a group, sell-side analysts expect that Resources Connection, Inc. will post -0.44 earnings per share for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 3rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Resources Connection’s payout ratio is -23.33%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RGP shares. Zacks Research upgraded shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Resources Connection has an average rating of “Hold” and an average price target of $7.00.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.