Numerai GP LLC Takes $1.30 Million Position in Resources Connection, Inc. (NASDAQ:RGP)

Numerai GP LLC bought a new position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 152,272 shares of the company's stock, valued at approximately $1,299,000. Numerai GP LLC owned 0.46% of Resources Connection at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RGP. Deprince Race & Zollo Inc. grew its position in Resources Connection by 38.7% in the 4th 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 grew its position in 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. Horrell Capital Management Inc. grew its position in Resources Connection by 30.1% in the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company's stock worth $9,042,000 after purchasing an additional 245,000 shares during the period. JPMorgan Chase & Co. grew its position in Resources Connection by 196.2% in the 4th quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock worth $2,232,000 after purchasing an additional 173,333 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Resources Connection by 23.1% in the 4th quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company's stock worth $7,104,000 after purchasing an additional 156,280 shares during the period. Institutional investors own 93.23% of the company's stock.

Insider Buying and Selling

In other news, COO Bhadreskumar Patel bought 9,900 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $5.05 per share, with a total value of $49,995.00. Following the acquisition, the chief operating officer now owns 131,099 shares of the company's stock, valued at approximately $662,049.95. This represents a 8.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kate W. Duchene bought 20,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $5.14 per share, with a total value of $102,800.00. Following the acquisition, the chief executive officer now directly owns 571,451 shares in the company, valued at $2,937,258.14. This trade represents a 3.63% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 54,900 shares of company stock valued at $279,295. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

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

Resources Connection Trading Up 0.2%

Resources Connection stock traded up $0.01 during mid-day trading on Friday, hitting $5.40. The stock had a trading volume of 177,771 shares, compared to its average volume of 404,563. The firm has a market capitalization of $178.57 million, a P/E ratio of -2.90 and a beta of 0.68. The firm's 50 day moving average is $5.87 and its 200 day moving average is $7.43. Resources Connection, Inc. has a one year low of $4.81 and a one year high of $12.19.

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.