Resources Connection, Inc. (NASDAQ:RGP) COO Buys $49,995.00 in Stock

Resources Connection, Inc. (NASDAQ:RGP) COO Bhadreskumar Patel bought 9,900 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $5.05 per share, with a total value of $49,995.00. Following the completion of the purchase, the chief operating officer now directly owns 131,099 shares of the company’s stock, valued at $662,049.95. This represents a 8.17 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Resources Connection Stock Performance

Shares of NASDAQ RGP traded down $0.03 during trading hours on Tuesday, hitting $5.10. 641,998 shares of the stock were exchanged, compared to its average volume of 407,040. The company’s fifty day simple moving average is $7.29 and its two-hundred day simple moving average is $8.10. Resources Connection, Inc. has a 1-year low of $4.81 and a 1-year high of $12.19. The company has a market cap of $168.76 million, a PE ratio of -2.74 and a beta of 0.60.

Resources Connection Announces Dividend

The firm 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. The ex-dividend date was Friday, February 14th. This represents a $0.56 annualized dividend and a dividend yield of 10.98%. Resources Connection’s dividend payout ratio is currently -17.07%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price objective on Resources Connection from $9.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, April 3rd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Horrell Capital Management Inc. increased its position in Resources Connection by 30.1% during the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock worth $9,042,000 after purchasing an additional 245,000 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Resources Connection by 38.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock valued at $8,220,000 after acquiring an additional 268,954 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Resources Connection by 23.1% during the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company’s stock valued at $7,104,000 after acquiring an additional 156,280 shares during the last quarter. Tieton Capital Management LLC lifted its holdings in shares of Resources Connection by 42.4% during the fourth quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock worth $7,021,000 after purchasing an additional 245,022 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Resources Connection by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 797,028 shares of the company’s stock worth $6,800,000 after purchasing an additional 12,499 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

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.