AQR Capital Management LLC Purchases 59,725 Shares of Resources Connection, Inc. (NASDAQ:RGP)

AQR Capital Management LLC increased its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 632,039 shares of the company's stock after acquiring an additional 59,725 shares during the period. AQR Capital Management LLC owned about 1.91% of Resources Connection worth $5,391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Resources Connection by 2.8% in the fourth quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock worth $439,000 after acquiring an additional 1,387 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Resources Connection by 17.9% during the 4th 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 raised its stake in shares of Resources Connection by 6.2% during the 4th quarter. LPL Financial LLC now owns 48,762 shares of the company's stock worth $416,000 after buying an additional 2,837 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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 worth $345,000 after acquiring an additional 3,497 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Resources Connection by 20.6% during 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 last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Resources Connection Price Performance

RGP traded down $0.08 during trading hours on Wednesday, reaching $5.45. 87,037 shares of the stock traded hands, compared to its average volume of 403,873. Resources Connection, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $12.19. The company has a market cap of $180.23 million, a price-to-earnings ratio of -2.93 and a beta of 0.68. The firm's fifty day simple moving average is $5.97 and its two-hundred day simple moving average is $7.49.

Analyst Ratings Changes

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

Insider Transactions at Resources Connection

In related news, CEO Kate W. Duchene bought 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, for a total transaction of $102,800.00. Following the transaction, the chief executive officer now directly owns 571,451 shares of the company's stock, valued at approximately $2,937,258.14. This represents a 3.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger D. Carlile bought 25,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the acquisition, 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. Over the last ninety days, insiders have acquired 54,900 shares of company stock valued at $279,295. 3.39% of the stock is currently owned by 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.