D. E. Shaw & Co. Inc. Has $2.69 Million Stake in Resources Connection, Inc. (NASDAQ:RGP)

D. E. Shaw & Co. Inc. boosted its position in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 50.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,665 shares of the company's stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RGP. Atria Investments Inc raised its position in shares of Resources Connection by 20.6% during the fourth quarter. Atria Investments Inc now owns 21,379 shares of the company's stock valued at $182,000 after buying an additional 3,656 shares during the last quarter. Rhumbline Advisers raised 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 buying an additional 1,387 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Resources Connection by 45.6% during the fourth 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 during the last quarter. LPL Financial LLC raised its position in shares of Resources Connection by 6.2% during the fourth quarter. LPL Financial LLC now owns 48,762 shares of the company's stock valued at $416,000 after buying an additional 2,837 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Resources Connection by 196.2% during the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock valued at $2,232,000 after buying an additional 173,333 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Insider Activity

In other Resources Connection news, CEO Kate W. Duchene acquired 20,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $5.14 per share, for a total transaction of $102,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 571,451 shares of the company's stock, valued at approximately $2,937,258.14. This represents a 3.63% 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 Roger D. Carlile acquired 25,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company's stock, valued at $253,000. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 54,900 shares of company stock valued at $279,295 over the last three months. 3.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Resources Connection Trading Down 0.9%

Shares of Resources Connection stock opened at $5.35 on Tuesday. The stock has a market capitalization of $176.92 million, a price-to-earnings ratio of -2.88 and a beta of 0.68. Resources Connection, Inc. has a 1-year low of $4.81 and a 1-year high of $12.19. The firm's 50-day moving average price is $5.84 and its two-hundred day moving average price is $7.40.

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.

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