D. E. Shaw & Co. Inc. Acquires 105,984 Shares of Resources Connection, Inc. (NASDAQ:RGP)

D. E. Shaw & Co. Inc. raised its holdings in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 50.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 315,665 shares of the company's stock after buying an additional 105,984 shares during the period. D. E. Shaw & Co. Inc. owned 0.95% of Resources Connection worth $2,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. increased its stake in Resources Connection by 38.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company's stock valued at $8,220,000 after buying an additional 268,954 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Resources Connection by 11.7% in the 4th quarter. Cresset Asset Management LLC now owns 68,924 shares of the company's stock valued at $588,000 after acquiring an additional 7,197 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Resources Connection by 17.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 327,738 shares of the company's stock valued at $2,796,000 after acquiring an additional 48,808 shares during the period. Ameriprise Financial Inc. grew its position in shares of Resources Connection by 58.4% in the 4th quarter. Ameriprise Financial Inc. now owns 343,820 shares of the company's stock valued at $2,933,000 after acquiring an additional 126,796 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Resources Connection by 10.4% in the 4th quarter. AQR Capital Management LLC now owns 632,039 shares of the company's stock valued at $5,391,000 after acquiring an additional 59,725 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Resources Connection Trading Down 2.2%

NASDAQ RGP traded down $0.11 during trading on Friday, reaching $4.94. The company's stock had a trading volume of 200,181 shares, compared to its average volume of 403,097. The firm has a market capitalization of $163.36 million, a price-to-earnings ratio of -2.66 and a beta of 0.68. Resources Connection, Inc. has a 12 month low of $4.81 and a 12 month high of $12.19. The firm has a 50 day moving average price of $5.70 and a 200 day moving average price of $7.31.

Resources Connection Announces Dividend

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

Insider Buying and Selling at Resources Connection

In other news, Director Roger D. Carlile bought 25,000 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the transaction, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. White sold 5,204 shares of the business's 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 completion of the transaction, the director now owns 24,331 shares of the company's stock, valued at $127,981.06. The trade was a 17.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 54,900 shares of company stock valued at $279,295 in the last quarter. Company 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.