Assenagon Asset Management S.A. Buys Shares of 97,350 Resources Connection, Inc. (NASDAQ:RGP)

Assenagon Asset Management S.A. acquired a new position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) during the first quarter, according to its most recent filing with the 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Deprince Race & Zollo Inc. grew its holdings in shares of Resources Connection by 38.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company's stock worth $8,220,000 after acquiring an additional 268,954 shares during the period. Tieton Capital Management LLC grew its stake in Resources Connection by 42.4% in the fourth quarter. Tieton Capital Management LLC now owns 823,108 shares of the company's stock worth $7,021,000 after purchasing an additional 245,022 shares during the period. Horrell Capital Management Inc. raised its holdings in Resources Connection by 30.1% in the fourth quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company's stock worth $9,042,000 after purchasing an additional 245,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Resources Connection by 196.2% in the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock worth $2,232,000 after purchasing an additional 173,333 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Resources Connection by 23.1% during the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company's stock valued at $7,104,000 after buying an additional 156,280 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Resources Connection Trading Down 2.7%

RGP traded down $0.15 during midday trading on Friday, reaching $5.34. The company's stock had a trading volume of 449,023 shares, compared to its average volume of 342,718. Resources Connection, Inc. has a 1 year low of $4.81 and a 1 year high of $12.19. The stock's 50-day moving average is $5.40 and its 200-day moving average is $6.87. The firm has a market capitalization of $176.59 million, a price-to-earnings ratio of -1.63, a PEG ratio of 0.43 and a beta of 0.64.

Resources Connection Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 23rd. Resources Connection's dividend payout ratio (DPR) is presently -17.07%.

Insider Activity at Resources Connection

In other news, Director David P. White sold 5,204 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $5.26, for a total transaction of $27,373.04. Following the sale, the director now owns 24,331 shares in the company, valued at $127,981.06. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $5.06 per share, with a total value of $126,500.00. Following the transaction, the director now directly owns 50,000 shares of the company's stock, valued at $253,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 54,900 shares of company stock valued at $279,295 in the last 90 days. Corporate insiders own 3.39% of the company's stock.

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.