Key Points
- Core Value Fund L.P. Cg purchased 90,000 shares of Resources Connection (NASDAQ:RGP) at an average price of $4.52 on Nov. 11 for $406,800, boosting its stake to 1,379,243 shares (a 6.98% increase) worth about $6.23 million.
- Resources Connection declared a quarterly dividend of $0.07 per share (annualized $0.28) with an ex-dividend/record date of Nov. 14 and a payment date of Dec. 12, implying a yield of roughly 5.9%.
- The stock trades near $4.75 with a market cap of ~$158.6M and negative P/E (-0.83); analyst ratings are mixed (consensus "Hold" with an average target of $6.00) and the 1‑year range is $4.13–$9.96.
Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) Director Core Value Fund L.P. Cg bought 10,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Core Value Fund L.P. Cg also recently made the following trade(s):
- On Tuesday, November 11th, Core Value Fund L.P. Cg bought 90,000 shares of Resources Connection stock. The stock was purchased at an average price of $4.52 per share, for a total transaction of $406,800.00.
Resources Connection Stock Performance
RGP traded up $0.16 during trading on Friday, reaching $4.81. 277,699 shares of the stock were exchanged, compared to its average volume of 324,275. The stock's 50 day moving average price is $4.77 and its two-hundred day moving average price is $5.10. Resources Connection, Inc. has a twelve month low of $4.13 and a twelve month high of $9.96. The stock has a market cap of $160.44 million, a P/E ratio of -0.84 and a beta of 0.60.
Resources Connection Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, November 14th. Resources Connection's dividend payout ratio is presently -4.90%.
Institutional Investors Weigh In On Resources Connection
Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC acquired a new stake in Resources Connection during the first quarter worth approximately $1,431,000. Invenomic Capital Management LP raised its stake in Resources Connection by 30.5% in the first quarter. Invenomic Capital Management LP now owns 788,952 shares of the company's stock valued at $5,160,000 after purchasing an additional 184,335 shares in the last quarter. Royce & Associates LP lifted its position in Resources Connection by 9.1% during the first quarter. Royce & Associates LP now owns 2,063,619 shares of the company's stock worth $13,496,000 after purchasing an additional 172,158 shares during the period. Trexquant Investment LP grew its stake in Resources Connection by 189.6% during the first quarter. Trexquant Investment LP now owns 213,494 shares of the company's stock worth $1,396,000 after buying an additional 139,761 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Resources Connection by 13.6% during the first quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company's stock worth $6,189,000 after buying an additional 113,614 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Noble Financial restated an "outperform" rating on shares of Resources Connection in a research note on Monday, October 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Resources Connection in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Resources Connection from a "hold" rating to a "sell" rating in a research report on Sunday, November 9th. 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 target price for the company. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Resources Connection currently has a consensus rating of "Hold" and an average target price of $6.00.
Get Our Latest Stock Analysis on RGP
Resources Connection Company Profile
(
Get Free Report)
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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