Resources Connection (NASDAQ:RGP) Stock Rating Upgraded by Wall Street Zen

Resources Connection (NASDAQ:RGP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts also recently weighed in on the stock. Noble Financial restated an “outperform” rating on shares of Resources Connection in a research note on Monday, October 13th. Northcoast Research started coverage on shares of Resources Connection in a report on Wednesday, September 24th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Resources Connection presently has an average rating of “Hold” and an average price target of $6.00.

Resources Connection Stock Performance

Shares of NASDAQ:RGP opened at $4.40 on Friday. Resources Connection has a one year low of $4.13 and a one year high of $9.96. The business’s 50-day simple moving average is $4.86 and its 200 day simple moving average is $5.14. The company has a market cap of $146.92 million, a P/E ratio of -0.77 and a beta of 0.62.

Insider Buying and Selling at Resources Connection

In other news, Director Anthony Cherbak sold 10,000 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $4.50, for a total value of $45,000.00. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at approximately $67,500. The trade was a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kate W. Duchene bought 23,015 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was bought at an average cost of $4.36 per share, with a total value of $100,345.40. Following the transaction, the chief executive officer directly owned 590,234 shares in the company, valued at approximately $2,573,420.24. The trade was a 4.06% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 7.91% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RGP. Wealth Enhancement Advisory Services LLC bought a new position in Resources Connection during the 1st quarter worth approximately $82,000. Cerity Partners LLC acquired a new stake in shares of Resources Connection during the 1st quarter valued at approximately $139,000. CWM LLC increased its stake in Resources Connection by 38.0% during the first quarter. CWM LLC now owns 15,243 shares of the company’s stock valued at $100,000 after purchasing an additional 4,199 shares during the last quarter. AE Wealth Management LLC bought a new stake in Resources Connection during the first quarter valued at $187,000. Finally, Royce & Associates LP increased its stake in Resources Connection by 9.1% during the first quarter. Royce & Associates LP now owns 2,063,619 shares of the company’s stock valued at $13,496,000 after purchasing an additional 172,158 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

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.