Two Sigma Investments LP Has $1.97 Million Stake in Resources Connection, Inc. (NASDAQ:RGP)

Two Sigma Investments LP lifted its stake in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 95.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,584 shares of the company's stock after buying an additional 112,812 shares during the period. Two Sigma Investments LP owned approximately 0.70% of Resources Connection worth $1,967,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RGP. Deprince Race & Zollo Inc. boosted its holdings in Resources Connection by 38.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company's stock worth $8,220,000 after purchasing an additional 268,954 shares during the period. Tieton Capital Management LLC boosted 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 valued at $7,021,000 after buying an additional 245,022 shares during the period. Horrell Capital Management Inc. grew 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 valued at $9,042,000 after buying an additional 245,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Resources Connection by 196.2% during the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock worth $2,232,000 after acquiring an additional 173,333 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Resources Connection by 23.1% during the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company's stock worth $7,104,000 after acquiring an additional 156,280 shares during the period. 93.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Resources Connection

In other news, CEO Kate W. Duchene acquired 20,000 shares of the firm's stock in a transaction that occurred on 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 owns 571,451 shares of the company's stock, valued at approximately $2,937,258.14. This trade represents a 3.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roger D. Carlile bought 25,000 shares of the business's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at approximately $253,000. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 54,900 shares of company stock valued at $279,295 over the last three months. Company insiders own 3.39% of the company's stock.

Resources Connection Stock Up 2.7%

Resources Connection stock traded up $0.14 during trading hours on Tuesday, hitting $5.27. 124,710 shares of the company traded hands, compared to its average volume of 401,233. The firm's 50-day simple moving average is $5.51 and its two-hundred day simple moving average is $7.16. The firm has a market cap of $174.27 million, a P/E ratio of -2.83 and a beta of 0.68. Resources Connection, Inc. has a 1-year low of $4.81 and a 1-year high of $12.19.

Resources Connection Announces Dividend

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

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.