Trexquant Investment LP Raises Stock Holdings in Resources Connection, Inc. $RGP

Key Points

• Trexquant Investment LP increased its holdings in Resources Connection, Inc. by 189.6%, owning a total of 213,494 shares valued at approximately $1.4 million as per the latest 13F filing.
• The company recently declared a quarterly dividend of $0.07, providing a yield of 5.6% for shareholders of record on August 29th.
• Analysts have upgraded Resources Connection's rating from "strong sell" to "hold," reflecting a shift in market sentiment, with an average target price of $5.00 per share.

Trexquant Investment LP grew its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 189.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 213,494 shares of the company's stock after purchasing an additional 139,761 shares during the period. Trexquant Investment LP owned approximately 0.65% of Resources Connection worth $1,396,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC increased its position in shares of Resources Connection by 19.4% in the first quarter. MetLife Investment Management LLC now owns 18,249 shares of the company's stock valued at $119,000 after buying an additional 2,969 shares in the last quarter. Walleye Capital LLC increased its position in shares of Resources Connection by 5.7% in the first quarter. Walleye Capital LLC now owns 253,356 shares of the company's stock valued at $1,657,000 after buying an additional 13,663 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Resources Connection by 3.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,187,901 shares of the company's stock valued at $7,769,000 after buying an additional 41,800 shares in the last quarter. AlphaQuest LLC increased its position in shares of Resources Connection by 429.1% in the first quarter. AlphaQuest LLC now owns 60,195 shares of the company's stock valued at $394,000 after buying an additional 48,819 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Resources Connection in the first quarter valued at $120,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Resources Connection Trading Up 3.0%

Shares of NASDAQ:RGP traded up $0.15 on Monday, hitting $5.15. The company had a trading volume of 242,905 shares, compared to its average volume of 250,665. Resources Connection, Inc. has a 52-week low of $4.44 and a 52-week high of $10.27. The business has a 50 day moving average of $5.15 and a 200 day moving average of $5.60. The company has a market cap of $171.86 million, a PE ratio of -0.88, a PEG ratio of 2.78 and a beta of 0.63.

Resources Connection Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded 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 company has a consensus rating of "Sell" and a consensus target price of $5.00.

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.