69,189 Shares in Resources Connection, Inc. $RGP Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 69,189 shares of Resources Connection, Inc., valued at approximately $452,000, representing a 0.21% stake in the company.
• Resources Connection announced a $0.07 quarterly dividend payable on September 26th, translating to an annualized yield of 5.5%.
• Wall Street Zen upgraded Resources Connection from a "strong sell" to a "hold" rating, although the stock still has an average rating of "sell" with a price target of $5.00.

Dynamic Technology Lab Private Ltd bought a new position in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 69,189 shares of the company's stock, valued at approximately $452,000. Dynamic Technology Lab Private Ltd owned 0.21% of Resources Connection at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Resources Connection during the 1st quarter worth $82,000. Assenagon Asset Management S.A. bought a new stake in shares of Resources Connection during the 1st quarter worth $637,000. GAMMA Investing LLC raised its stake in shares of Resources Connection by 3,712.9% during the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock worth $31,000 after purchasing an additional 4,604 shares during the period. Two Sigma Advisers LP raised its stake in shares of Resources Connection by 47.7% during the 4th quarter. Two Sigma Advisers LP now owns 114,506 shares of the company's stock worth $977,000 after purchasing an additional 37,000 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Resources Connection by 58.4% during the 4th quarter. Ameriprise Financial Inc. now owns 343,820 shares of the company's stock worth $2,933,000 after purchasing an additional 126,796 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Resources Connection from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell" and an average price target of $5.00.

Resources Connection Stock Performance

RGP traded up $0.10 during midday trading on Wednesday, hitting $5.29. The stock had a trading volume of 38,195 shares, compared to its average volume of 283,440. The company has a market cap of $176.53 million, a P/E ratio of -0.91, a price-to-earnings-growth ratio of 2.92 and a beta of 0.63. The business has a fifty day moving average of $5.05 and a 200 day moving average of $5.52. Resources Connection, Inc. has a 1 year low of $4.44 and a 1 year high of $10.27.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection's dividend payout ratio is -4.81%.

Resources Connection 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.