218,830 Shares in Resources Connection, Inc. $RGP Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 218,830 shares of Resources Connection, Inc. (RGP), valued at approximately $1.43 million, bringing its total ownership to about 0.66% as of the last quarter.
• The company has announced a quarterly dividend of $0.07, which will be paid on September 26th, representing an annualized yield of 5.5%.
• Analysts have updated their rating for RGP from a "strong sell" to a "hold," with a consensus target price set at $5.00.

Nuveen LLC purchased a new position in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 218,830 shares of the company's stock, valued at approximately $1,431,000. Nuveen LLC owned approximately 0.66% of Resources Connection as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Resources Connection by 3,712.9% during the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock worth $31,000 after purchasing an additional 4,604 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Resources Connection during the first quarter worth about $82,000. Capital Investment Advisors LLC purchased a new position in Resources Connection during the first quarter worth about $90,000. CWM LLC raised its holdings in Resources Connection by 38.0% during the first quarter. CWM LLC now owns 15,243 shares of the company's stock worth $100,000 after purchasing an additional 4,199 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 worth $105,000 after purchasing an additional 1,863 shares in the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Resources Connection Price Performance

Resources Connection stock traded down $0.07 during mid-day trading on Thursday, reaching $5.06. The company had a trading volume of 120,839 shares, compared to its average volume of 284,649. Resources Connection, Inc. has a 1 year low of $4.44 and a 1 year high of $10.27. The company has a market capitalization of $168.70 million, a P/E ratio of -0.87, a P/E/G ratio of 2.84 and a beta of 0.63. The stock's 50-day simple moving average is $5.17 and its 200-day simple moving average is $5.69.

Resources Connection Announces Dividend

The business 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 dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.5%. Resources Connection's dividend payout ratio (DPR) is presently -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.