Resources Connection Inc. (RECN) Sees Strong Trading Volume
Resources Connection Inc. (NASDAQ:RECN) saw an uptick in trading volume on Wednesday . 146,873 shares were traded during trading, a decline of 4% from the previous session’s volume of 152,563 shares.The stock last traded at $15.65 and had previously closed at $15.55.
A number of equities research analysts have recently weighed in on the company. Robert W. Baird reiterated a “buy” rating on shares of Resources Connection in a report on Saturday, April 9th. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, June 9th.
The stock has a market capitalization of $572.72 million and a price-to-earnings ratio of 19.72. The firm’s 50 day moving average price is $15.00 and its 200 day moving average price is $14.76.
The firm also recently announced 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 yield of 2.57%.
In related news, Director Anne Shih sold 2,430 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $15.08, for a total transaction of $36,644.40. Following the completion of the sale, the director now owns 30,132 shares in the company, valued at approximately $454,390.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
A number of hedge funds have made changes to their positions in the stock. Jennison Associates LLC acquired a new stake in shares of Resources Connection during the fourth quarter valued at $1,012,000. Sawtooth Asset Management Inc. increased its stake 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 valued at $1,080,000 after buying an additional 65,209 shares during the last quarter. Brandes Investment Partners LP increased its stake 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 valued at $1,133,000 after buying an additional 12,466 shares during the last quarter. California State Teachers Retirement System increased its stake 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 valued at $1,138,000 after buying an additional 1,247 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake 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 valued at $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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