Resources Connection (NASDAQ:RGP) Director Sells $45,000.00 in Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Anthony Cherbak sold 10,000 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $4.50, for a total value of $45,000.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $67,500. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Resources Connection Trading Down 4.4%

Shares of NASDAQ RGP opened at $4.54 on Monday. The stock has a fifty day simple moving average of $4.95 and a two-hundred day simple moving average of $5.28. Resources Connection, Inc. has a 1-year low of $4.44 and a 1-year high of $9.96. The firm has a market cap of $151.59 million, a price-to-earnings ratio of -0.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.62.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Friday, August 29th. Resources Connection’s payout ratio is currently -4.90%.

Hedge Funds Weigh In On Resources Connection

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Resources Connection in the 1st quarter worth approximately $82,000. Assenagon Asset Management S.A. bought a new position in shares of Resources Connection in the first quarter worth $637,000. GAMMA Investing LLC increased its holdings in shares of Resources Connection by 3,712.9% in the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company’s stock worth $31,000 after purchasing an additional 4,604 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Resources Connection in the first quarter worth $452,000. Finally, Trexquant Investment LP increased its holdings in shares of Resources Connection by 189.6% in the first quarter. Trexquant Investment LP now owns 213,494 shares of the company’s stock worth $1,396,000 after purchasing an additional 139,761 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Northcoast Research assumed coverage on shares of Resources Connection in a research note on Wednesday, September 24th. They issued a “buy” rating and a $7.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

About Resources Connection

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.