Dimensional Fund Advisors LP decreased its holdings in shares of Resources Connection, Inc. (NASDAQ:RECN) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,473,116 shares of the business services provider’s stock after selling 19,010 shares during the quarter. Dimensional Fund Advisors LP owned 8.21% of Resources Connection worth $34,376,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Resources Connection by 4.0% during the second quarter. State Street Corp now owns 869,657 shares of the business services provider’s stock valued at $11,912,000 after buying an additional 33,348 shares in the last quarter. AXA purchased a new position in shares of Resources Connection during the second quarter valued at $1,062,000. Palisade Capital Management LLC NJ grew its holdings in shares of Resources Connection by 1.9% during the third quarter. Palisade Capital Management LLC NJ now owns 939,848 shares of the business services provider’s stock valued at $13,064,000 after buying an additional 17,360 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Resources Connection during the third quarter valued at $979,000. Finally, Sapience Investments LLC grew its stake in Resources Connection by 16.6% in the second quarter. Sapience Investments LLC now owns 524,984 shares of the business services provider’s stock valued at $7,192,000 after purchasing an additional 74,930 shares in the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.
RECN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Deutsche Bank restated a “sell” rating and issued a $13.00 target price (up previously from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, November 10th. BidaskClub downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, TheStreet upgraded Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.50.
Resources Connection, Inc. (RECN) opened at $16.60 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.36 and a quick ratio of 2.36. Resources Connection, Inc. has a 52 week low of $12.05 and a 52 week high of $17.58. The company has a market capitalization of $520.83, a PE ratio of 28.62 and a beta of 1.18.
Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. The firm had revenue of $156.70 million for the quarter, compared to the consensus estimate of $152.91 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. equities research analysts forecast that Resources Connection, Inc. will post 0.83 EPS for the current fiscal year.
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Resources Connection Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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