Today, Resources Connection Inc. (RECN) Position Decreased by Deprince Race & Zollo Inc.

Today, Resources Connection Inc. (RECN) Position Decreased by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. decreased its position in shares of Resources Connection Inc. (NASDAQ:RECN) by 10.8% during the third quarter, Holdings Channel reports. The institutional investor owned 330,071 shares of the company’s stock after selling 39,901 shares during the period. Deprince Race & Zollo Inc. owned about 0.91% of Resources Connection worth $4,931,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Suntrust Banks Inc. raised its stake in shares of Resources Connection by 1.7% in the second quarter. Suntrust Banks Inc. now owns 21,715 shares of the company’s stock worth $320,000 after buying an additional 372 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in shares of Resources Connection by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 61,801 shares of the company’s stock worth $913,000 after buying an additional 465 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Resources Connection by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 138,050 shares of the company’s stock worth $2,041,000 after buying an additional 500 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Resources Connection by 2.8% in the third quarter. First Trust Advisors LP now owns 19,702 shares of the company’s stock worth $294,000 after buying an additional 545 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of Resources Connection by 0.7% in the second quarter. ClariVest Asset Management LLC now owns 124,095 shares of the company’s stock worth $1,835,000 after buying an additional 900 shares in the last quarter. 86.77% of the stock is owned by hedge funds and other institutional investors.

Resources Connection Inc. (NASDAQ:RECN) traded up 1.56% during mid-day trading on Friday, hitting $16.30. 974,755 shares of the company’s stock traded hands. The stock has a market cap of $589.54 million, a PE ratio of 21.14 and a beta of 1.31. The firm’s 50-day moving average price is $14.74 and its 200-day moving average price is $14.89. Resources Connection Inc. has a one year low of $12.30 and a one year high of $18.71.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, October 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Resources Connection had a return on equity of 8.42% and a net margin of 4.88%. The company earned $143.40 million during the quarter. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. On average, analysts forecast that Resources Connection Inc. will post $0.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 57.14%.

RECN has been the subject of a number of research reports. Deutsche Bank AG initiated coverage on shares of Resources Connection in a research note on Wednesday, August 17th. They issued a “sell” rating and a $13.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Resources Connection in a research note on Thursday, October 6th. Zacks Investment Research raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Finally, Robert W. Baird lowered shares of Resources Connection from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 6th.

Resources Connection Company Profile

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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