Resources Connection (NASDAQ:RGP) Director Sells $45,000.00 in Stock

Key Points

• Resources Connection Director Anthony Cherbak sold 10,000 shares at an average price of $4.50, decreasing his total holdings by 40% to 15,000 shares.
• The company has a market cap of $151.50 million and recently traded down 4.4% to reach $4.54 per share.
• Resources Connection announced a quarterly dividend of $0.07 per share, with a dividend yield of 6.2%.

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) Director Anthony Cherbak sold 10,000 shares of the business's stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $4.50, for a total value of $45,000.00. Following the completion of the sale, the director owned 15,000 shares of the company's stock, valued at $67,500. The trade was a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Resources Connection Price Performance

NASDAQ RGP traded down $0.21 on Friday, reaching $4.54. 805,040 shares of the company's stock traded hands, compared to its average volume of 297,955. The stock has a market cap of $151.50 million, a PE ratio of -0.79, a P/E/G ratio of 2.75 and a beta of 0.62. Resources Connection, Inc. has a 12 month low of $4.44 and a 12 month high of $9.96. The stock has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $5.31.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were issued a $0.07 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 6.2%. Resources Connection's payout ratio is currently -4.90%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Northcoast Research initiated coverage on Resources Connection in a research report on Wednesday, September 24th. They set a "buy" rating and a $7.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Resources Connection in a research note on Wednesday. Finally, Wall Street Zen raised shares of Resources Connection from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $6.00.

Hedge Funds Weigh In On Resources Connection

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Resources Connection by 3,712.9% in the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock worth $31,000 after acquiring an additional 4,604 shares during the period. Nisa Investment Advisors LLC raised its holdings in Resources Connection by 171.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,466 shares of the company's stock worth $45,000 after purchasing an additional 5,344 shares in the last quarter. Strs Ohio bought a new position in Resources Connection in the 1st quarter worth $48,000. R Squared Ltd purchased a new stake in shares of Resources Connection in the 2nd quarter worth about $57,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Resources Connection by 398.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,602 shares of the company's stock valued at $62,000 after purchasing an additional 9,275 shares in the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

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.

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