Bhadreskumar Patel Acquires 9,900 Shares of Resources Connection, Inc. (NASDAQ:RGP) Stock

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) COO Bhadreskumar Patel acquired 9,900 shares of the company's stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $5.05 per share, with a total value of $49,995.00. Following the completion of the purchase, the chief operating officer now owns 131,099 shares in the company, valued at approximately $662,049.95. This represents a 8.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Resources Connection Price Performance

RGP traded up $0.05 during trading on Friday, hitting $5.35. The company's stock had a trading volume of 333,545 shares, compared to its average volume of 409,083. Resources Connection, Inc. has a twelve month low of $4.81 and a twelve month high of $12.19. The stock has a market cap of $176.92 million, a PE ratio of -2.88 and a beta of 0.60. The firm's 50 day moving average price is $6.92 and its 200-day moving average price is $7.95.

Resources Connection Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Resources Connection

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 valued at $31,000 after buying an additional 4,604 shares during the period. Nisa Investment Advisors LLC grew its position in Resources Connection by 2,171.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock valued at $44,000 after acquiring an additional 4,908 shares during the period. Point72 DIFC Ltd increased its stake in Resources Connection by 32.5% during the third quarter. Point72 DIFC Ltd now owns 7,074 shares of the company's stock worth $69,000 after acquiring an additional 1,735 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 worth $105,000 after purchasing an additional 1,863 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Resources Connection in the 3rd quarter worth about $115,000. 93.23% of the stock is owned by institutional investors and hedge funds.

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.