Insider Buying: Resources Connection (NASDAQ:RGP) Director Buys $45,300.00 in Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Core Value Fund L.P. Cg acquired 10,000 shares of Resources Connection stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $4.53 per share, with a total value of $45,300.00. Following the completion of the acquisition, the director owned 1,389,243 shares of the company’s stock, valued at $6,293,270.79. The trade was a 0.73% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 11th, Core Value Fund L.P. Cg bought 90,000 shares of Resources Connection stock. The stock was purchased at an average cost of $4.52 per share, for a total transaction of $406,800.00.

Resources Connection Trading Up 3.2%

NASDAQ:RGP opened at $4.80 on Friday. The firm has a 50-day moving average price of $4.77 and a two-hundred day moving average price of $5.08. Resources Connection, Inc. has a twelve month low of $4.13 and a twelve month high of $9.96. The company has a market capitalization of $160.27 million, a P/E ratio of -0.84 and a beta of 0.60.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.28 annualized dividend and a yield of 5.8%. Resources Connection’s dividend payout ratio (DPR) is presently -4.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of Resources Connection by 171.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,466 shares of the company’s stock worth $45,000 after purchasing an additional 5,344 shares during the last quarter. Strs Ohio acquired a new position in Resources Connection in the first quarter worth about $48,000. R Squared Ltd bought a new stake in Resources Connection in the second quarter valued at about $57,000. AXQ Capital LP bought a new stake in Resources Connection in the third quarter valued at about $61,000. Finally, PNC Financial Services Group Inc. raised its stake in Resources Connection by 398.6% during the second quarter. PNC Financial Services Group Inc. now owns 11,602 shares of the company’s stock valued at $62,000 after buying an additional 9,275 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analyst Ratings Changes

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