Nuveen LLC Makes New $1.43 Million Investment in Resources Connection, Inc. $RGP

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

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

Resources Connection Trading Down 1.4%

NASDAQ RGP traded down $0.07 during trading hours on Friday, reaching $5.00. 333,014 shares of the company's stock were exchanged, compared to its average volume of 251,057. The stock has a market cap of $166.70 million, a PE ratio of -0.86, a price-to-earnings-growth ratio of 2.82 and a beta of 0.63. Resources Connection, Inc. has a one year low of $4.44 and a one year high of $10.27. The firm has a fifty day moving average of $5.15 and a 200-day moving average of $5.65.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.6%. Resources Connection's dividend payout ratio is -4.81%.

Analyst Upgrades and Downgrades

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, According to MarketBeat.com, Resources Connection has a consensus rating of "Sell" and an average target price 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.