Insider Buying: Resources Connection, Inc. (NASDAQ:RGP) CEO Purchases 20,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) CEO Kate W. Duchene purchased 20,000 shares of Resources Connection stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $5.14 per share, for a total transaction of $102,800.00. Following the transaction, the chief executive officer now directly owns 571,451 shares in the company, valued at $2,937,258.14. This represents a 3.63 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Resources Connection Trading Up 4.9 %

RGP traded up $0.25 during trading on Wednesday, reaching $5.35. 168,868 shares of the company's stock were exchanged, compared to its average volume of 406,302. The stock has a market capitalization of $176.95 million, a PE ratio of -2.84 and a beta of 0.60. Resources Connection, Inc. has a one year low of $4.81 and a one year high of $12.19. The firm has a fifty day moving average price of $7.15 and a two-hundred day moving average price of $8.05.

Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 10.47%. The ex-dividend date of this dividend was Friday, February 14th. Resources Connection's payout ratio is presently -17.07%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Resources Connection by 2.8% during the fourth quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock worth $439,000 after buying an additional 1,387 shares during the period. Point72 DIFC Ltd raised its position in shares of Resources Connection by 32.5% in the 3rd quarter. Point72 DIFC Ltd now owns 7,074 shares of the company's stock worth $69,000 after acquiring an additional 1,735 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Resources Connection by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock valued at $105,000 after purchasing an additional 1,863 shares during the period. Mackenzie Financial Corp boosted its position 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 valued at $150,000 after purchasing an additional 1,921 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Resources Connection by 6.2% during the fourth quarter. LPL Financial LLC now owns 48,762 shares of the company's stock worth $416,000 after purchasing an additional 2,837 shares during the period. Institutional investors own 93.23% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price target on shares of Resources Connection from $9.50 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, April 3rd.

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.