Assenagon Asset Management S.A. Takes $637,000 Position in Resources Connection, Inc. (NASDAQ:RGP)

Assenagon Asset Management S.A. acquired a new stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 97,350 shares of the company's stock, valued at approximately $637,000. Assenagon Asset Management S.A. owned about 0.29% of Resources Connection at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RGP. Rhumbline Advisers grew its position in shares of Resources Connection by 2.8% during the fourth quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock valued at $439,000 after purchasing an additional 1,387 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Resources Connection by 45.6% during the 4th quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company's stock valued at $148,000 after buying an additional 5,430 shares in the last quarter. Ieq Capital LLC purchased a new position in Resources Connection during the 4th quarter valued at approximately $241,000. Bank of New York Mellon Corp increased its stake in Resources Connection by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 455,344 shares of the company's stock worth $3,884,000 after acquiring an additional 25,236 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Resources Connection by 9.5% during the 4th quarter. Victory Capital Management Inc. now owns 40,399 shares of the company's stock worth $345,000 after acquiring an additional 3,497 shares in the last quarter. Institutional investors own 93.23% of the company's stock.

Resources Connection Stock Performance

Shares of NASDAQ:RGP traded up $0.11 on Thursday, reaching $5.49. The company's stock had a trading volume of 160,764 shares, compared to its average volume of 380,965. The company has a 50-day simple moving average of $5.39 and a 200 day simple moving average of $6.92. Resources Connection, Inc. has a 52-week low of $4.81 and a 52-week high of $12.19. The company has a market cap of $181.55 million, a P/E ratio of -1.67, a PEG ratio of 0.43 and a beta of 0.64.

Resources Connection Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 23rd will be given a $0.07 dividend. The ex-dividend date is Monday, June 23rd. Resources Connection's dividend payout ratio is currently -8.54%.

Insider Buying and Selling

In other news, COO Bhadreskumar Patel acquired 9,900 shares of the business's stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $5.05 per share, for a total transaction of $49,995.00. Following the completion of the transaction, the chief operating officer now directly owns 131,099 shares of the company's stock, valued at approximately $662,049.95. The trade was a 8.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $27,373.04. Following the completion of the sale, the director now owns 24,331 shares of the company's stock, valued at $127,981.06. This trade represents a 17.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 54,900 shares of company stock worth $279,295. Corporate insiders own 3.39% of the company's stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their target price on Resources Connection from $9.50 to $5.00 and set an "underweight" rating for the company 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.