Sei Investments Co. Has $4.96 Million Position in Resources Connection, Inc. $RGP

Sei Investments Co. lifted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 111.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,329,568 shares of the company’s stock after acquiring an additional 700,943 shares during the quarter. Sei Investments Co.’s holdings in Resources Connection were worth $4,959,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in Resources Connection in the fourth quarter valued at approximately $31,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Resources Connection during the fourth quarter valued at about $33,000. DGS Capital Management LLC acquired a new stake in Resources Connection during the 1st quarter worth approximately $44,000. Strs Ohio bought a new stake in shares of Resources Connection in the first quarter worth $48,000. Finally, Quarry LP increased its stake in shares of Resources Connection by 4,995.7% in the third quarter. Quarry LP now owns 9,529 shares of the company’s stock valued at $48,000 after buying an additional 9,342 shares during the period. Institutional investors own 93.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RGP shares. Zacks Research raised Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Wall Street Zen lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Resources Connection currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Resources Connection Stock Performance

Shares of RGP stock opened at $4.45 on Thursday. The company has a market capitalization of $153.26 million, a P/E ratio of -3.71 and a beta of 0.54. Resources Connection, Inc. has a fifty-two week low of $3.06 and a fifty-two week high of $5.55. The stock has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $4.15.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $106.11 million during the quarter, compared to analyst estimates of $106.76 million. Resources Connection had a negative return on equity of 4.63% and a negative net margin of 8.98%. As a group, equities analysts predict that Resources Connection, Inc. will post -0.44 earnings per share for the current year.

Resources Connection Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.