Roger D. Carlile Buys 25,000 Shares of Resources Connection, Inc. (NASDAQ:RGP) Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $5.06 per share, for a total transaction of $126,500.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $253,000. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Resources Connection Stock Down 2.3 %

Resources Connection stock opened at $5.20 on Friday. The firm has a market cap of $172.07 million, a P/E ratio of -2.80 and a beta of 0.60. The business has a fifty day moving average of $7.36 and a two-hundred day moving average of $8.15. Resources Connection, Inc. has a twelve month low of $4.81 and a twelve month high of $12.19.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 10.77%. The ex-dividend date of this dividend was Friday, February 14th. Resources Connection’s payout ratio is currently -17.07%.

Hedge Funds Weigh In On Resources Connection

A number of large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Resources Connection in the 3rd quarter worth approximately $106,000. FMR LLC boosted its stake in Resources Connection by 403.4% in the third quarter. FMR LLC now owns 17,408 shares of the company’s stock valued at $169,000 after acquiring an additional 13,950 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Resources Connection by 263.6% in the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company’s stock valued at $1,144,000 after acquiring an additional 85,472 shares in the last quarter. Walleye Capital LLC purchased a new position in Resources Connection in the third quarter worth $1,895,000. Finally, Verition Fund Management LLC increased its position in shares of Resources Connection by 32.1% during the third quarter. Verition Fund Management LLC now owns 33,361 shares of the company’s stock worth $324,000 after purchasing an additional 8,113 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their target price on shares of Resources Connection from $9.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.