Arete Wealth Advisors LLC Has $218,000 Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Arete Wealth Advisors LLC raised its stake in Resources Connection, Inc. (NASDAQ:RGP) by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,373 shares of the company’s stock after acquiring an additional 7,496 shares during the period. Arete Wealth Advisors LLC owned about 0.08% of Resources Connection worth $218,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RGP. Horrell Capital Management Inc. raised its stake in shares of Resources Connection by 30.1% in the fourth quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock valued at $9,042,000 after acquiring an additional 245,000 shares during the last quarter. Tieton Capital Management LLC boosted its stake in Resources Connection by 42.4% in 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Resources Connection by 1.6% during 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. Bank of New York Mellon Corp increased its stake in shares of Resources Connection by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 455,344 shares of the company’s stock valued at $3,884,000 after buying an additional 25,236 shares in the last quarter. Finally, Brandes Investment Partners LP raised its holdings in shares of Resources Connection by 13.1% in the fourth quarter. Brandes Investment Partners LP now owns 397,095 shares of the company’s stock valued at $3,387,000 after buying an additional 45,864 shares during the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Stock Performance

Shares of RGP opened at $5.13 on Tuesday. The business’s fifty day moving average price is $7.29 and its two-hundred day moving average price is $8.10. The firm has a market capitalization of $169.76 million, a price-to-earnings ratio of -2.76 and a beta of 0.60. Resources Connection, Inc. has a 52 week low of $4.81 and a 52 week high of $12.19.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.56 dividend on an annualized basis and a yield of 10.92%. Resources Connection’s payout ratio is -17.07%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Resources Connection news, CEO Kate W. Duchene bought 20,000 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $5.14 per share, with a total value of $102,800.00. Following the acquisition, the chief executive officer now owns 571,451 shares of the company’s stock, valued at approximately $2,937,258.14. The trade was a 3.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction dated Friday, April 4th. The stock was bought at an average price 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 $253,000. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.39% of the company’s stock.

Resources Connection 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.