Resources Connection, Inc. (NASDAQ:RGP) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Resources Connection, Inc. (NASDAQ:RGP) by 170.9% during the 3rd quarter, Holdings Channel reports. The fund owned 36,902 shares of the company’s stock after acquiring an additional 23,279 shares during the quarter. Victory Capital Management Inc.’s holdings in Resources Connection were worth $358,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Resources Connection by 66.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after purchasing an additional 1,019 shares in the last quarter. CWM LLC raised its holdings in Resources Connection by 883.5% during the second quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after purchasing an additional 3,048 shares in the last quarter. Mather Group LLC. acquired a new stake in Resources Connection during the second quarter worth approximately $44,000. Point72 DIFC Ltd acquired a new stake in Resources Connection during the second quarter worth approximately $59,000. Finally, nVerses Capital LLC acquired a new stake in Resources Connection during the third quarter worth approximately $60,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Performance

RGP stock opened at $8.44 on Friday. 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 $8.56 and its two-hundred day moving average is $9.91. The stock has a market cap of $282.49 million, a P/E ratio of 23.44, a PEG ratio of 3.41 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The business 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 business’s revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Resources Connection, Inc. will post 0.16 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.64%. Resources Connection’s payout ratio is 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.