Insider Buying: Resources Connection, Inc. (NASDAQ:RGP) Director Acquires $126,500.00 in Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $253,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Resources Connection Trading Down 2.3 %

NASDAQ:RGP opened at $5.20 on Monday. The stock has a market capitalization of $172.07 million, a PE ratio of -2.80 and a beta of 0.60. Resources Connection, Inc. has a 1-year low of $4.81 and a 1-year high of $12.19. The firm has a fifty day simple moving average of $7.36 and a 200 day simple moving average of $8.14.

Resources Connection Dividend Announcement

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

Institutional Investors Weigh In On Resources Connection

A number of institutional investors and hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. increased its position in Resources Connection by 38.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock worth $8,220,000 after buying an additional 268,954 shares during the last quarter. Tieton Capital Management LLC boosted its stake in shares of Resources Connection by 42.4% during the 4th quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock worth $7,021,000 after acquiring an additional 245,022 shares during the period. Horrell Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 245,000 shares during the last quarter. Walleye Capital LLC bought a new stake in Resources Connection in the 3rd quarter valued at $1,895,000. Finally, JPMorgan Chase & Co. lifted its holdings in Resources Connection by 196.2% during the 4th 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 last quarter. 93.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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 report 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.