Resources Connection (NASDAQ:RGP) Director Core Value Fund L.P. Cg Acquires 10,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Core Value Fund L.P. Cg bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $4.53 per share, with a total value of $45,300.00. Following the purchase, the director directly owned 1,389,243 shares of the company’s stock, valued at approximately $6,293,270.79. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Core Value Fund L.P. Cg also recently made the following trade(s):

• On Tuesday, November 11th, Core Value Fund L.P. Cg acquired 90,000 shares of Resources Connection stock. The shares were acquired at an average price of $4.52 per share, with a total value of $406,800.00.

Resources Connection Price Performance

Shares of RGP traded up $0.16 during mid-day trading on Friday, hitting $4.81. The company’s stock had a trading volume of 277,699 shares, compared to its average volume of 324,275. The firm has a 50-day moving average price of $4.77 and a 200 day moving average price of $5.10. Resources Connection, Inc. has a fifty-two week low of $4.13 and a fifty-two week high of $9.96. The stock has a market capitalization of $160.44 million, a price-to-earnings ratio of -0.84 and a beta of 0.60.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.28 annualized dividend and a dividend yield of 5.8%. Resources Connection’s dividend payout ratio is currently -4.90%.

Hedge Funds Weigh In On Resources Connection

A number of hedge funds have recently added to or reduced their stakes in RGP. Nisa Investment Advisors LLC grew its position in Resources Connection by 171.2% in the second quarter. Nisa Investment Advisors LLC now owns 8,466 shares of the company’s stock worth $45,000 after acquiring an additional 5,344 shares in the last quarter. Strs Ohio acquired a new position in Resources Connection during the first quarter worth $48,000. R Squared Ltd bought a new position in Resources Connection during the second quarter valued at about $57,000. AXQ Capital LP acquired a new stake in shares of Resources Connection in the third quarter worth about $61,000. 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 worth $62,000 after acquiring an additional 9,275 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RGP. Wall Street Zen lowered Resources Connection from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Resources Connection in a research report on Wednesday, October 8th. Noble Financial restated an “outperform” rating on shares of Resources Connection in a report on Monday, October 13th. Finally, Northcoast Research began coverage on shares of Resources Connection in a research note on Wednesday, September 24th. They set a “buy” rating and a $7.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

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.