Bank of America Corp DE Sells 201,247 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Bank of America Corp DE lessened its position in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 76.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,186 shares of the company's stock after selling 201,247 shares during the period. Bank of America Corp DE owned about 0.19% of Resources Connection worth $530,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RGP. Rhumbline Advisers raised its stake in Resources Connection by 2.8% during the 4th quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock valued at $439,000 after acquiring an additional 1,387 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Resources Connection by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock valued at $105,000 after acquiring an additional 1,863 shares in the last quarter. LPL Financial LLC increased its position in shares of Resources Connection by 6.2% during the 4th quarter. LPL Financial LLC now owns 48,762 shares of the company's stock valued at $416,000 after purchasing an additional 2,837 shares during the period. Victory Capital Management Inc. increased its position 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 valued at $345,000 after purchasing an additional 3,497 shares during the period. Finally, Atria Investments Inc increased its position in shares of Resources Connection by 20.6% during the 4th quarter. Atria Investments Inc now owns 21,379 shares of the company's stock valued at $182,000 after purchasing an additional 3,656 shares during the period. Institutional investors own 93.23% of the company's stock.

Insider Buying and Selling at Resources Connection

In related news, CEO Kate W. Duchene bought 20,000 shares of Resources Connection stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $102,800.00. Following the acquisition, the chief executive officer now owns 571,451 shares in the company, valued at $2,937,258.14. This trade represents a 3.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. White sold 5,204 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $5.26, for a total value of $27,373.04. Following the completion of the sale, the director now owns 24,331 shares of the company's stock, valued at approximately $127,981.06. This trade represents a 17.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 54,900 shares of company stock valued at $279,295 in the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered 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.

Resources Connection Trading Down 2.4%

Shares of NASDAQ RGP traded down $0.13 during mid-day trading on Friday, reaching $5.38. The company had a trading volume of 239,113 shares, compared to its average volume of 385,547. The stock has a market cap of $177.91 million, a PE ratio of -2.89 and a beta of 0.64. The company has a 50-day moving average price of $5.39 and a two-hundred day moving average price of $6.99. Resources Connection, Inc. has a 1-year low of $4.81 and a 1-year high of $12.19.

Resources Connection Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, June 23rd. Resources Connection's dividend payout ratio (DPR) is presently -8.54%.

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.