Insider Selling: Resources Connection, Inc. (NASDAQ:RECN) CFO Sells 1,586 Shares of Stock

Resources Connection, Inc. (NASDAQ:RECN) CFO Jennifer Y. Ryu sold 1,586 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $16.03, for a total value of $25,423.58. Following the completion of the transaction, the chief financial officer now directly owns 862 shares in the company, valued at approximately $13,817.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RECN stock traded up $0.07 during midday trading on Friday, hitting $16.13. The company’s stock had a trading volume of 204,000 shares, compared to its average volume of 228,363. The stock’s 50-day moving average price is $16.32 and its 200 day moving average price is $16.06. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.30. Resources Connection, Inc. has a 1 year low of $13.62 and a 1 year high of $17.93. The stock has a market cap of $514.36 million, a price-to-earnings ratio of 16.13 and a beta of 1.17.

Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Thursday, January 2nd. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.08. The business had revenue of $184.51 million for the quarter, compared to analysts’ expectations of $183.00 million. Resources Connection had a return on equity of 11.74% and a net margin of 4.52%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, equities analysts forecast that Resources Connection, Inc. will post 0.97 earnings per share for the current fiscal year.

Several research analysts have weighed in on RECN shares. Zacks Investment Research cut Resources Connection from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. BidaskClub cut Resources Connection from a “hold” rating to a “sell” rating in a research report on Friday, January 17th.

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its stake in shares of Resources Connection by 104.5% in the second quarter. Public Employees Retirement System of Ohio now owns 1,867 shares of the business services provider’s stock valued at $30,000 after buying an additional 954 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Resources Connection in the third quarter valued at $150,000. Zebra Capital Management LLC bought a new stake in shares of Resources Connection in the third quarter valued at $185,000. Russell Investments Group Ltd. raised its stake in shares of Resources Connection by 111.2% in the third quarter. Russell Investments Group Ltd. now owns 12,740 shares of the business services provider’s stock valued at $217,000 after buying an additional 6,708 shares during the period. Finally, Man Group plc bought a new stake in shares of Resources Connection in the second quarter valued at $298,000. Hedge funds and other institutional investors own 81.88% of the company’s stock.

Resources Connection Company 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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