Millennium Management LLC Sells 197,607 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Millennium Management LLC trimmed its stake in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 633,306 shares of the company's stock after selling 197,607 shares during the quarter. Millennium Management LLC owned approximately 1.91% of Resources Connection worth $5,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in Resources Connection by 2,171.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock valued at $44,000 after purchasing an additional 4,908 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Resources Connection by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock valued at $105,000 after acquiring an additional 1,863 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Resources Connection in the 4th quarter valued at about $148,000. Sanctuary Advisors LLC increased its holdings in Resources Connection by 45.6% in 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. Finally, Wells Fargo & Company MN lifted its holdings in Resources Connection by 32.0% during the 4th quarter. Wells Fargo & Company MN now owns 19,784 shares of the company's stock worth $169,000 after buying an additional 4,796 shares during the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Resources Connection

In other news, Director Roger D. Carlile purchased 25,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $5.06 per share, with a total value of $126,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company's stock, valued at approximately $253,000. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kate W. Duchene bought 20,000 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $5.14 per share, with a total value of $102,800.00. Following the purchase, the chief executive officer now directly owns 571,451 shares of the company's stock, valued at $2,937,258.14. The trade was a 3.63% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 54,900 shares of company stock worth $279,295 in the last 90 days. 3.39% of the stock is owned by insiders.

Analyst Ratings Changes

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

Resources Connection Stock Performance

RGP traded down $0.03 during trading on Friday, reaching $5.26. The company had a trading volume of 205,578 shares, compared to its average volume of 403,095. The firm's 50-day simple moving average is $5.54 and its 200 day simple moving average is $7.20. The company has a market cap of $173.94 million, a price-to-earnings ratio of -2.83 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.

Resources Connection Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, June 23rd. Resources Connection's dividend payout ratio (DPR) is presently -8.54%.

About Resources Connection

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.