JPMorgan Chase & Co. Cuts Resources Connection (NASDAQ:RGP) Price Target to $5.00

Resources Connection (NASDAQ:RGP) had its target price reduced by JPMorgan Chase & Co. from $9.50 to $5.00 in a research note published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Resources Connection Stock Down 19.8 %

Shares of Resources Connection stock opened at $5.32 on Thursday. Resources Connection has a 12 month low of $5.25 and a 12 month high of $12.19. The stock has a market cap of $176.04 million, a PE ratio of -2.86 and a beta of 0.61. The business has a fifty day simple moving average of $7.43 and a 200-day simple moving average of $8.20.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.14 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 10.53%. Resources Connection’s dividend payout ratio is -30.11%.

Institutional Trading of Resources Connection

Institutional investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its position in Resources Connection by 20.6% in the 4th quarter. Atria Investments Inc now owns 21,379 shares of the company’s stock worth $182,000 after buying an additional 3,656 shares in the last quarter. Rhumbline Advisers increased 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 during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Resources Connection by 45.6% during the fourth quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company’s stock worth $148,000 after acquiring an additional 5,430 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Resources Connection by 263.6% during the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company’s stock valued at $1,144,000 after purchasing an additional 85,472 shares during the last quarter. Finally, Barclays PLC grew its stake in Resources Connection by 194.4% in the third quarter. Barclays PLC now owns 48,280 shares of the company’s stock valued at $468,000 after purchasing an additional 31,879 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

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.