Cresset Asset Management LLC Increases Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Cresset Asset Management LLC boosted its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,924 shares of the company’s stock after acquiring an additional 7,197 shares during the quarter. Cresset Asset Management LLC’s holdings in Resources Connection were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Horrell Capital Management Inc. boosted its holdings in Resources Connection by 30.1% during 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 during the period. Russell Investments Group Ltd. raised its position in Resources Connection by 23.1% in the 4th quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company’s stock valued at $7,104,000 after purchasing an additional 156,280 shares in the last quarter. Tieton Capital Management LLC raised its position in Resources Connection by 42.4% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in Resources Connection by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 797,028 shares of the company’s stock valued at $6,800,000 after purchasing an additional 12,499 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Resources Connection by 10.4% in the 4th quarter. AQR Capital Management LLC now owns 632,039 shares of the company’s stock valued at $5,391,000 after purchasing an additional 59,725 shares in the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Resources Connection Price Performance

RGP stock opened at $5.53 on Wednesday. The firm has a market capitalization of $182.87 million, a P/E ratio of -2.97 and a beta of 0.68. The business’s 50-day moving average is $5.97 and its two-hundred day moving average is $7.49. Resources Connection, Inc. has a 1 year low of $4.81 and a 1 year high of $12.19.

Insider Buying and Selling at Resources Connection

In other Resources Connection news, Director Roger D. Carlile bought 25,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David P. White sold 5,204 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $5.26, for a total value of $27,373.04. Following the sale, the director now directly owns 24,331 shares in the company, valued at $127,981.06. This trade represents a 17.62% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 54,900 shares of company stock valued at $279,295 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

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

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.