Invenomic Capital Management LP Buys 48,880 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Invenomic Capital Management LP boosted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 604,617 shares of the company's stock after purchasing an additional 48,880 shares during the quarter. Invenomic Capital Management LP owned 1.83% of Resources Connection worth $5,157,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Resources Connection by 2.8% in the 4th quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock valued at $439,000 after acquiring an additional 1,387 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 during the period. LPL Financial LLC boosted its position in Resources Connection by 6.2% during the fourth quarter. LPL Financial LLC now owns 48,762 shares of the company's stock worth $416,000 after purchasing an additional 2,837 shares during the period. Victory Capital Management Inc. boosted its position in shares of Resources Connection by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 40,399 shares of the company's stock valued at $345,000 after acquiring an additional 3,497 shares during the period. Finally, Atria Investments Inc boosted its position in shares of Resources Connection by 20.6% in the fourth quarter. Atria Investments Inc now owns 21,379 shares of the company's stock valued at $182,000 after acquiring an additional 3,656 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective 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 Activity

In other Resources Connection news, Director Roger D. Carlile purchased 25,000 shares of the company's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $5.06 per share, for a total transaction of $126,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $253,000. The trade was a 100.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Bhadreskumar Patel purchased 9,900 shares of the company's stock in a transaction dated Monday, April 7th. The shares were acquired at an average price of $5.05 per share, with a total value of $49,995.00. Following the transaction, the chief operating officer now owns 131,099 shares in the company, valued at approximately $662,049.95. The trade was a 8.17% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 54,900 shares of company stock valued at $279,295 in the last ninety days. 3.39% of the stock is currently owned by insiders.

Resources Connection Stock Performance

Shares of Resources Connection stock traded up $0.01 on Friday, reaching $5.40. 177,771 shares of the company's stock were exchanged, compared to its average volume of 405,356. Resources Connection, Inc. has a 52 week low of $4.81 and a 52 week high of $12.19. The firm's 50-day moving average is $5.87 and its two-hundred day moving average is $7.43. The company has a market capitalization of $178.57 million, a P/E ratio of -2.90 and a beta of 0.68.

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.