Resources Connection, Inc. (NASDAQ:RGP) COO Purchases $49,995.00 in Stock

Resources Connection, Inc. (NASDAQ:RGP) COO Bhadreskumar Patel bought 9,900 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $5.05 per share, with a total value of $49,995.00. Following the completion of the transaction, the chief operating officer now owns 131,099 shares in the company, valued at approximately $662,049.95. This trade represents a 8.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Resources Connection Stock Up 10.0 %

RGP opened at $5.61 on Thursday. The business has a 50 day moving average price of $7.04 and a two-hundred day moving average price of $8.00. The company has a market cap of $185.52 million, a PE ratio of -3.02 and a beta of 0.60. Resources Connection, Inc. has a 52 week low of $4.81 and a 52 week high of $12.19.

Resources Connection Dividend Announcement

The business 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 annualized dividend and a yield of 9.98%. The ex-dividend date was Friday, February 14th. Resources Connection’s dividend payout ratio is presently -17.07%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Resources Connection

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Resources Connection by 3,712.9% during the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company’s stock worth $31,000 after buying an additional 4,604 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Resources Connection by 12.3% during the 4th quarter. Mackenzie Financial Corp now owns 17,527 shares of the company’s stock worth $150,000 after buying an additional 1,921 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Resources Connection by 151.6% during the 4th quarter. Squarepoint Ops LLC now owns 44,056 shares of the company’s stock worth $376,000 after buying an additional 26,548 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Resources Connection by 47.7% during the 4th quarter. Two Sigma Advisers LP now owns 114,506 shares of the company’s stock worth $977,000 after buying an additional 37,000 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Resources Connection by 95.8% during the 4th quarter. Two Sigma Investments LP now owns 230,584 shares of the company’s stock worth $1,967,000 after buying an additional 112,812 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.