Resources Connection, Inc. (NASDAQ:RECN) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP decreased its holdings in shares of Resources Connection, Inc. (NASDAQ:RECN) by 52.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 33,145 shares of the business services provider’s stock after selling 35,900 shares during the quarter. Systematic Financial Management LP’s holdings in Resources Connection were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RECN. Investors Research Corp acquired a new stake in Resources Connection during the first quarter worth $83,000. BNP Paribas Arbitrage SA increased its stake in Resources Connection by 134.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,878 shares of the business services provider’s stock worth $114,000 after acquiring an additional 3,941 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Resources Connection by 451.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,296 shares of the business services provider’s stock worth $146,000 after acquiring an additional 8,430 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Resources Connection during the second quarter worth $185,000. Finally, Squarepoint Ops LLC boosted its position in shares of Resources Connection by 12.3% during the fourth quarter. Squarepoint Ops LLC now owns 15,431 shares of the business services provider’s stock worth $219,000 after buying an additional 1,690 shares during the period. 82.23% of the stock is owned by institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Resources Connection from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. BidaskClub upgraded Resources Connection from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th.

Shares of RECN traded up $0.17 during midday trading on Tuesday, hitting $17.02. 1,428 shares of the stock were exchanged, compared to its average volume of 182,721. Resources Connection, Inc. has a 52-week low of $12.72 and a 52-week high of $19.50. The stock’s fifty day moving average is $16.58. The firm has a market cap of $536.95 million, a price-to-earnings ratio of 16.60 and a beta of 1.17. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.15.

Resources Connection (NASDAQ:RECN) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Resources Connection had a return on equity of 11.96% and a net margin of 4.32%. The business had revenue of $182.10 million during the quarter, compared to analyst estimates of $182.44 million. During the same period last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Resources Connection, Inc. will post 1.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.14 per share. This is a positive change from Resources Connection’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 21st. Resources Connection’s dividend payout ratio (DPR) is currently 50.49%.

Resources Connection 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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