Stone Ridge Asset Management LLC boosted its position in Resources Connection, Inc. (NASDAQ:RECN) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,208 shares of the business services provider’s stock after acquiring an additional 10,114 shares during the period. Stone Ridge Asset Management LLC owned 0.16% of Resources Connection worth $727,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RECN. Bank of Montreal Can raised its position in shares of Resources Connection by 1,204.3% during the fourth quarter. Bank of Montreal Can now owns 10,369 shares of the business services provider’s stock worth $147,000 after purchasing an additional 9,574 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in shares of Resources Connection during the fourth quarter worth about $160,000. Paloma Partners Management Co acquired a new stake in shares of Resources Connection during the third quarter worth about $176,000. GSA Capital Partners LLP acquired a new stake in shares of Resources Connection during the fourth quarter worth about $180,000. Finally, Citigroup Inc. raised its position in shares of Resources Connection by 62.7% during the fourth quarter. Citigroup Inc. now owns 19,222 shares of the business services provider’s stock worth $273,000 after purchasing an additional 7,405 shares during the period. Institutional investors and hedge funds own 81.09% of the company’s stock.

Shares of Resources Connection stock opened at $16.33 on Monday. Resources Connection, Inc. has a 52-week low of $12.72 and a 52-week high of $19.50. The company has a market capitalization of $518.07 million, a P/E ratio of 16.66 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.21.

Resources Connection (NASDAQ:RECN) last announced its earnings results on Thursday, January 3rd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.10. Resources Connection had a return on equity of 11.77% and a net margin of 3.44%. The business had revenue of $188.80 million for the quarter, compared to analyst estimates of $185.05 million. Research analysts forecast that Resources Connection, Inc. will post 1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, February 12th. Resources Connection’s dividend payout ratio (DPR) is 53.06%.

In other Resources Connection news, CEO Kate W. Duchene sold 49,500 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $16.60, for a total transaction of $821,700.00. Following the transaction, the chief executive officer now owns 107,797 shares of the company’s stock, valued at approximately $1,789,430.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John D. Bower sold 6,650 shares of Resources Connection stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $16.63, for a total value of $110,589.50. Following the transaction, the insider now owns 17,291 shares of the company’s stock, valued at $287,549.33. The disclosure for this sale can be found here. Insiders have sold a total of 200,057 shares of company stock worth $3,295,663 in the last ninety days. Insiders own 9.80% of the company’s stock.

RECN has been the topic of a number of research analyst reports. BidaskClub lowered Resources Connection from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Zacks Investment Research lowered Resources Connection from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Robert W. Baird dropped their target price on Resources Connection from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, January 4th. Four equities research analysts have rated the stock with a hold rating, Resources Connection presently has an average rating of “Hold” and a consensus price target of $17.00.

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Resources Connection Company Profile

Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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