Resources Connection (NASDAQ:RGP) Director Core Value Fund L.P. Cg Purchases 90,000 Shares

Resources Connection, Inc. (NASDAQ:RGP) Director Core Value Fund L.P. Cg bought 90,000 shares of Resources Connection stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average price of $4.52 per share, with a total value of $406,800.00. Following the completion of the purchase, the director owned 1,379,243 shares in the company, valued at $6,234,178.36. This trade represents a 6.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Core Value Fund L.P. Cg also recently made the following trade(s):

• On Wednesday, November 12th, Core Value Fund L.P. Cg purchased 10,000 shares of Resources Connection stock. The stock was purchased at an average price of $4.53 per share, for a total transaction of $45,300.00.

Resources Connection Stock Performance

Shares of NASDAQ RGP traded up $0.10 during midday trading on Friday, hitting $4.75. 124,935 shares of the stock traded hands, compared to its average volume of 323,359. Resources Connection, Inc. has a one year low of $4.13 and a one year high of $9.96. The business has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $5.10. The company has a market cap of $158.60 million, a PE ratio of -0.83 and a beta of 0.60.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.28 annualized dividend and a dividend yield of 5.9%. Resources Connection’s dividend payout ratio is -4.90%.

Institutional Investors Weigh In On Resources Connection

Hedge funds have recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of Resources Connection during the 1st quarter worth $1,431,000. Invenomic Capital Management LP boosted its position in Resources Connection by 30.5% during the first quarter. Invenomic Capital Management LP now owns 788,952 shares of the company’s stock worth $5,160,000 after purchasing an additional 184,335 shares during the period. Royce & Associates LP increased its stake in shares of Resources Connection by 9.1% in the first quarter. Royce & Associates LP now owns 2,063,619 shares of the company’s stock worth $13,496,000 after purchasing an additional 172,158 shares in the last quarter. Trexquant Investment LP raised its position 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 valued at $1,396,000 after purchasing an additional 139,761 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Resources Connection by 13.6% in the 1st quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company’s stock worth $6,189,000 after buying an additional 113,614 shares during the period. Institutional investors own 93.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Northcoast Research started coverage on Resources Connection in a research report on Wednesday, September 24th. They issued a “buy” rating and a $7.00 price target for the company. Noble Financial reissued an “outperform” rating on shares of Resources Connection in a research report on Monday, October 13th. Wall Street Zen lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Resources Connection in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Resources Connection currently has a consensus rating of “Hold” and an average target price of $6.00.

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.