Resources Connection, Inc. (NASDAQ:RGP) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 36.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,042 shares of the company’s stock after acquiring an additional 4,575 shares during the period. Mackenzie Financial Corp owned 0.05% of Resources Connection worth $241,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Resources Connection by 53.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,735 shares of the company’s stock valued at $175,000 after purchasing an additional 4,073 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Resources Connection during the 3rd quarter valued at about $197,000. Amalgamated Bank lifted its holdings in shares of Resources Connection by 9.8% during the 3rd quarter. Amalgamated Bank now owns 13,449 shares of the company’s stock worth $201,000 after acquiring an additional 1,203 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Resources Connection in the third quarter worth approximately $205,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Resources Connection in the fourth quarter valued at approximately $227,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RGP. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th. Robert W. Baird reduced their target price on Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th.

Resources Connection Stock Performance

NASDAQ RGP opened at $11.10 on Monday. The firm has a market capitalization of $375.29 million, a price-to-earnings ratio of 16.82, a PEG ratio of 2.31 and a beta of 0.61. Resources Connection, Inc. has a one year low of $10.59 and a one year high of $17.24. The company’s 50 day moving average price is $12.66 and its 200 day moving average price is $13.36.

Resources Connection (NASDAQ:RGP) last issued its earnings results on Wednesday, April 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. The business had revenue of $151.31 million for the quarter, compared to the consensus estimate of $152.77 million. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. Sell-side analysts forecast that Resources Connection, Inc. will post 0.32 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Wednesday, May 15th. Resources Connection’s payout ratio is 84.85%.

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.