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

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

Resources Connection Stock Performance

Shares of RGP opened at $5.20 on Friday. Resources Connection, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $12.19. The stock has a fifty day moving average of $7.36 and a two-hundred day moving average of $8.15. The company 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a $0.14 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.56 annualized dividend and a yield of 10.77%. Resources Connection’s payout ratio is currently -17.07%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price target on shares of Resources Connection from $9.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday.

Institutional Trading of Resources Connection

A number of hedge funds have recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. grew its holdings 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 buying an additional 268,954 shares during the period. Tieton Capital Management LLC grew its holdings in Resources Connection by 42.4% in the fourth quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock valued at $7,021,000 after purchasing an additional 245,022 shares during the period. Horrell Capital Management Inc. increased its position 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 worth $9,042,000 after purchasing an additional 245,000 shares during the last quarter. Walleye Capital LLC purchased a new position in Resources Connection during the third quarter worth approximately $1,895,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Resources Connection by 196.2% in 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 and hedge funds.

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.