Insider Buying: Resources Connection, Inc. (NASDAQ:RGP) Director Buys 25,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Roger D. Carlile acquired 25,000 shares of Resources Connection stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $5.06 per share, with a total value of $126,500.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $253,000. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Resources Connection Stock Performance

Shares of Resources Connection stock traded down $0.12 during midday trading on Friday, reaching $5.20. 963,626 shares of the company’s stock traded hands, compared to its average volume of 405,174. Resources Connection, Inc. has a 52 week low of $4.82 and a 52 week high of $12.19. The company’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $8.17. The company has a market cap of $172.07 million, a price-to-earnings ratio of -2.80 and a beta of 0.60.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 dividend yield of 10.77%. Resources Connection’s dividend payout ratio is currently -17.07%.

Institutional Trading of Resources Connection

Several large investors have recently made changes to their positions in the stock. Horrell Capital Management Inc. raised its stake in shares of Resources Connection by 30.1% in the 4th 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 in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Resources Connection by 38.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock valued at $8,220,000 after purchasing an additional 268,954 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Resources Connection by 4.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock valued at $8,154,000 after purchasing an additional 34,570 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Resources Connection by 23.1% in the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company’s stock worth $7,104,000 after buying an additional 156,280 shares during the last quarter. Finally, Tieton Capital Management LLC boosted its holdings 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 buying an additional 245,022 shares during the period. Institutional investors own 93.23% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price target on Resources Connection from $9.50 to $5.00 and set an “underweight” rating for the company 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.