Dynamic Technology Lab Private Ltd Purchases Shares of 69,189 Resources Connection, Inc. $RGP

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 purchased a new stake in Resources Connection, Inc. (NASDAQ:RGP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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 quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Resources Connection by 3,712.9% in the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock valued at $31,000 after buying an additional 4,604 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Resources Connection in the first quarter valued at approximately $82,000. Capital Investment Advisors LLC bought a new stake in shares of Resources Connection in the first quarter valued at approximately $90,000. CWM LLC boosted its stake in shares of Resources Connection by 38.0% in the first quarter. CWM LLC now owns 15,243 shares of the company's stock valued at $100,000 after buying an additional 4,199 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Resources Connection by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock valued at $105,000 after purchasing an additional 1,863 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Stock Up 1.0%

Shares of NASDAQ:RGP traded up $0.05 during trading on Friday, hitting $5.14. 276,909 shares of the company were exchanged, compared to its average volume of 249,932. The business's 50 day moving average is $5.08 and its 200-day moving average is $5.55. The company has a market capitalization of $171.52 million, a P/E ratio of -0.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. Resources Connection, Inc. has a 1-year low of $4.44 and a 1-year high of $10.27.

Resources Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 5.4%. Resources Connection's payout ratio is currently -4.81%.

Analyst Upgrades and Downgrades

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

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.