Deutsche Bank AG reduced its stake in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,830 shares of the company's stock after selling 114,272 shares during the quarter. Deutsche Bank AG owned about 0.45% of Resources Connection worth $1,261,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Resources Connection by 2,171.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock worth $44,000 after buying an additional 4,908 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Resources Connection during the 4th quarter valued at $148,000. Exchange Traded Concepts LLC raised its stake in shares of Resources Connection by 17.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,363 shares of the company's stock valued at $302,000 after purchasing an additional 5,189 shares during the period. Empowered Funds LLC raised its stake in shares of Resources Connection by 5.1% during the 4th quarter. Empowered Funds LLC now owns 166,538 shares of the company's stock valued at $1,421,000 after purchasing an additional 8,108 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of 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 purchasing an additional 1,387 shares during the period. 93.23% of the stock is owned by institutional investors and hedge funds.
Resources Connection Stock Performance
Shares of RGP traded down $0.03 on Friday, reaching $5.26. The stock had a trading volume of 14,425 shares, compared to its average volume of 401,856. Resources Connection, Inc. has a 12-month low of $4.81 and a 12-month high of $12.19. The firm has a market capitalization of $174.08 million, a price-to-earnings ratio of -2.83 and a beta of 0.68. The company has a 50-day simple moving average of $5.57 and a 200-day simple moving average of $7.23.
Resources Connection Announces Dividend
The company also recently announced a dividend, which will be paid on Monday, July 21st. Stockholders 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 (DPR) is -8.54%.
Insider Transactions at Resources Connection
In related news, Director Roger D. Carlile bought 25,000 shares of the stock in a transaction on Friday, April 4th. The stock was bought 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 in the company, valued at approximately $253,000. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Bhadreskumar Patel purchased 9,900 shares of Resources Connection stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $5.05 per share, for a total transaction of $49,995.00. Following the completion of the transaction, the chief operating officer now owns 131,099 shares of the company's stock, valued at approximately $662,049.95. This represents a 8.17% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 54,900 shares of company stock valued at $279,295. 3.39% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. reduced their price objective 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.
Get Our Latest Report on RGP
Resources Connection Company Profile
(
Free Report)
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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