Cubist Systematic Strategies LLC Reduces Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Cubist Systematic Strategies LLC trimmed its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 77.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,537 shares of the company's stock after selling 148,950 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.13% of Resources Connection worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RGP. Tieton Capital Management LLC increased 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 valued at $7,021,000 after buying an additional 245,022 shares in the last quarter. Horrell Capital Management Inc. increased its holdings in Resources Connection by 30.1% during 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in Resources Connection by 196.2% during 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 in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Resources Connection by 23.1% in the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company's stock valued at $7,104,000 after acquiring an additional 156,280 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Resources Connection by 58.4% in the fourth quarter. Ameriprise Financial Inc. now owns 343,820 shares of the company's stock valued at $2,933,000 after acquiring an additional 126,796 shares in the last quarter. 93.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Resources Connection

In other news, Director Roger D. Carlile acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Bhadreskumar Patel acquired 9,900 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average price of $5.05 per share, for a total transaction of $49,995.00. Following the purchase, the chief operating officer now owns 131,099 shares of the company's stock, valued at $662,049.95. The trade was a 8.17% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 54,900 shares of company stock worth $279,295. Insiders own 3.39% of the company's stock.

Resources Connection Stock Performance

Resources Connection stock remained flat at $5.00 during trading on Thursday. The company had a trading volume of 16,075 shares, compared to its average volume of 402,604. Resources Connection, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $12.19. The company's 50-day moving average price is $5.77 and its 200 day moving average price is $7.37. The firm has a market cap of $165.35 million, a PE ratio of -2.69 and a beta of 0.68.

About Resources Connection

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.