Resources Connection Inc. (RECN) Stock Price Down 2.7%
Resources Connection Inc. (NASDAQ:RECN)’s share price traded down 2.7% during trading on Thursday . The stock traded as low as $15.15 and last traded at $15.16, with a volume of 375,212 shares trading hands. The stock had previously closed at $15.58.
Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Robert W. Baird reaffirmed a “buy” rating on shares of Resources Connection in a research note on Saturday, April 9th.
The stock has a 50-day moving average price of $15.00 and a 200-day moving average price of $14.76. The company has a market capitalization of $557.28 million and a P/E ratio of 19.19.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $152.20 million for the quarter, compared to the consensus estimate of $150.85 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. On average, analysts anticipate that Resources Connection Inc. will post $0.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, May 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.64%.
In related news, Director Anne Shih sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $15.08, for a total transaction of $36,644.40. Following the completion of the transaction, the director now owns 30,132 shares in the company, valued at approximately $454,390.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors recently modified their holdings of RECN. Jennison Associates LLC bought a new position in shares of Resources Connection during the fourth quarter worth about $1,012,000. Sawtooth Asset Management Inc. raised its position in shares of Resources Connection by 7,495.3% in the fourth quarter. Sawtooth Asset Management Inc. now owns 66,079 shares of the company’s stock worth $1,080,000 after buying an additional 65,209 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Resources Connection by 21.9% in the fourth quarter. Brandes Investment Partners LP now owns 69,334 shares of the company’s stock worth $1,133,000 after buying an additional 12,466 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Resources Connection by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 69,669 shares of the company’s stock worth $1,138,000 after buying an additional 1,247 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Resources Connection by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 94,402 shares of the company’s stock worth $1,543,000 after buying an additional 2,800 shares during the last quarter.
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions, and legal and regulatory.
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