Resources Connection (NASDAQ:RECN) Share Price Passes Above... - Jonathan Cartu - Moving & Transportation Services
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Resources Connection (NASDAQ:RECN) Share Price Passes Above…

Resources Connection (NASDAQ:RECN) Share Price Passes Above…


Resources Connection, Inc. (NASDAQ:RECN)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.86 and traded as high as $15.91. Resources Connection shares last traded at $15.87, with a volume of 1,925 shares.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, June 4th. BidaskClub cut shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Thursday, March 14th.

The stock’s fifty day simple moving average is $15.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market capitalization of $504.96 million, a price-to-earnings ratio of 16.40 and a beta of 1.11.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a yield of 3.24%. Resources Connection’s payout ratio is 53.06%.

Hedge funds have recently modified their holdings of the business. Horrell Capital Management Inc. purchased a new position in shares of Resources Connection during the 1st quarter valued at $2,934,000. Martingale Asset Management L P grew its position in shares of Resources Connection by 202.2% during the 1st quarter. Martingale Asset Management L P now owns 166,214 shares of the business services provider’s stock valued at $2,751,000 after purchasing an additional 111,205 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Resources Connection during the 1st quarter valued at $1,824,000. Deutsche Bank AG grew its position in shares of Resources Connection by 149.3% during the 4th quarter. Deutsche Bank AG now owns 174,555 shares of the business services provider’s stock valued at $2,476,000 after purchasing an additional 104,546 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Resources Connection by 62.7% during the 1st quarter. Acadian Asset Management LLC now owns 258,932 shares of the business services provider’s stock valued at $4,283,000 after purchasing an additional 99,768 shares in the last quarter. 81.47% of the stock is currently owned by institutional investors and hedge funds.

About Resources Connection (NASDAQ:RECN)

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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