Insider Buying: Resources Connection, Inc. (NASDAQ:RGP) Director Buys 25,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Roger D. Carlile acquired 25,000 shares of Resources Connection stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $5.06 per share, with a total value of $126,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $253,000. This represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Resources Connection Stock Down 2.3 %

Shares of NASDAQ RGP opened at $5.20 on Friday. Resources Connection, Inc. has a 12 month low of $4.81 and a 12 month high of $12.19. The company has a market cap of $172.07 million, a price-to-earnings ratio of -2.80 and a beta of 0.60. The business has a fifty day simple moving average of $7.36 and a 200-day simple moving average of $8.17.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 10.77%. The ex-dividend date was Friday, February 14th. Resources Connection’s dividend payout ratio is presently -17.07%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Horrell Capital Management Inc. lifted its position in shares of Resources Connection by 30.1% in the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock valued at $9,042,000 after acquiring an additional 245,000 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Resources Connection by 38.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock valued at $8,220,000 after purchasing an additional 268,954 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Resources Connection by 4.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock worth $8,154,000 after buying an additional 34,570 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Resources Connection by 23.1% during the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company’s stock valued at $7,104,000 after buying an additional 156,280 shares in the last quarter. Finally, Tieton Capital Management LLC grew its holdings in shares of Resources Connection by 42.4% during the fourth 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. 93.23% of the stock is owned by hedge funds and other institutional investors.

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.