Resources Connection, Inc. (NASDAQ:RGP) CEO Kate W. Duchene Purchases 20,000 Shares

Resources Connection, Inc. (NASDAQ:RGP) CEO Kate W. Duchene purchased 20,000 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $5.14 per share, for a total transaction of $102,800.00. Following the completion of the purchase, the chief executive officer now directly owns 571,451 shares of the company’s stock, valued at $2,937,258.14. The trade was a 3.63 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Resources Connection Stock Down 2.3 %

NASDAQ RGP opened at $5.20 on Friday. The company has a 50 day moving average price of $7.36 and a two-hundred day moving average price of $8.17. Resources Connection, Inc. has a 12-month low of $4.81 and a 12-month high of $12.19. The stock has a market capitalization of $172.07 million, a PE ratio of -2.80 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 issued a $0.14 dividend. 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 dividend payout ratio is presently -17.07%.

Hedge Funds Weigh In On Resources Connection

Several institutional investors have recently bought and sold shares of RGP. Deprince Race & Zollo Inc. boosted its stake in shares of Resources Connection by 38.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock worth $8,220,000 after acquiring an additional 268,954 shares in the last quarter. Tieton Capital Management LLC boosted its position in 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. Horrell Capital Management Inc. grew its holdings in Resources Connection by 30.1% during the fourth quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock valued at $9,042,000 after purchasing an additional 245,000 shares during the last quarter. Walleye Capital LLC acquired a new position in Resources Connection during the third quarter valued at approximately $1,895,000. Finally, JPMorgan Chase & Co. raised its position in shares of Resources Connection by 196.2% in the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company’s stock valued at $2,232,000 after purchasing an additional 173,333 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Resources Connection Company Profile

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.