Dupont Capital Management Corp bought a new stake in shares of Resources Connection, Inc. (NASDAQ:RECN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 70,433 shares of the business services provider’s stock, valued at approximately $979,000. Dupont Capital Management Corp owned about 0.23% of Resources Connection as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of Resources Connection during the first quarter valued at approximately $116,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Resources Connection by 44.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 3,761 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Resources Connection during the second quarter valued at approximately $171,000. Tudor Investment Corp ET AL purchased a new position in shares of Resources Connection during the first quarter valued at approximately $173,000. Finally, AHL Partners LLP lifted its holdings in shares of Resources Connection by 8.7% during the second quarter. AHL Partners LLP now owns 15,851 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 1,262 shares during the last quarter. Hedge funds and other institutional investors own 82.30% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Deutsche Bank AG lowered their target price on shares of Resources Connection from $14.00 to $12.00 and set a “sell” rating for the company in a report on Friday, July 21st. BidaskClub lowered shares of Resources Connection from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, Robert W. Baird reiterated a “hold” rating and set a $15.00 target price on shares of Resources Connection in a report on Friday. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Resources Connection currently has an average rating of “Hold” and a consensus target price of $15.00.
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Resources Connection, Inc. (RECN) opened at $15.55 on Friday. Resources Connection, Inc. has a 1-year low of $12.05 and a 1-year high of $19.80. The firm has a market cap of $468.49, a P/E ratio of 26.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82.
Resources Connection (NASDAQ:RECN) last announced its quarterly earnings data on Wednesday, October 4th. The business services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The company had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts anticipate that Resources Connection, Inc. will post 0.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.09%. Resources Connection’s payout ratio is currently 102.13%.
Resources Connection Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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