Ameriprise Financial Inc. Grows Stake in Resources Connection, Inc. (NASDAQ:RGP)

Ameriprise Financial Inc. raised its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 58.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 343,820 shares of the company's stock after purchasing an additional 126,796 shares during the period. Ameriprise Financial Inc. owned approximately 1.04% of Resources Connection worth $2,933,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Horrell Capital Management Inc. lifted its position in shares of Resources Connection by 30.1% during the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company's stock worth $9,042,000 after buying an additional 245,000 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Resources Connection by 23.1% during the 4th quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company's stock worth $7,104,000 after buying an additional 156,280 shares in the last quarter. Tieton Capital Management LLC raised its holdings in shares of Resources Connection by 42.4% in the 4th quarter. Tieton Capital Management LLC now owns 823,108 shares of the company's stock worth $7,021,000 after purchasing an additional 245,022 shares during the period. Geode Capital Management LLC raised its holdings in shares of Resources Connection by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 797,028 shares of the company's stock worth $6,800,000 after purchasing an additional 12,499 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Resources Connection by 10.4% in the 4th quarter. AQR Capital Management LLC now owns 632,039 shares of the company's stock worth $5,391,000 after purchasing an additional 59,725 shares during the period. Institutional investors and hedge funds own 93.23% of the company's stock.

Analyst Ratings Changes

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

Resources Connection Trading Down 1.7%

Shares of NASDAQ:RGP traded down $0.09 during mid-day trading on Monday, reaching $5.13. The company had a trading volume of 190,773 shares, compared to its average volume of 402,338. The firm has a market cap of $169.64 million, a price-to-earnings ratio of -2.76 and a beta of 0.68. The company's 50-day moving average price is $5.51 and its 200-day moving average price is $7.16. Resources Connection, Inc. has a one year low of $4.81 and a one year high of $12.19.

Resources Connection Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 23rd. Resources Connection's payout ratio is -8.54%.

Insider Buying and Selling at Resources Connection

In other news, Director David P. White sold 5,204 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $5.26, for a total transaction of $27,373.04. Following the completion of the transaction, the director now directly owns 24,331 shares in the company, valued at $127,981.06. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $5.06 per share, with a total value of $126,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $253,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 54,900 shares of company stock valued at $279,295 in the last 90 days. 3.39% of the stock is currently owned by company insiders.

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.