JPMorgan Chase & Co. Buys 173,333 Shares of Resources Connection, Inc. (NASDAQ:RGP)

JPMorgan Chase & Co. boosted its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 196.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,688 shares of the company's stock after buying an additional 173,333 shares during the period. JPMorgan Chase & Co. owned approximately 0.79% of Resources Connection worth $2,232,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Resources Connection by 2,171.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock valued at $44,000 after buying an additional 4,908 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Resources Connection in the 3rd quarter worth $115,000. SG Americas Securities LLC purchased a new stake in shares of Resources Connection in the fourth quarter valued at about $148,000. Atria Investments Inc lifted its position in shares of Resources Connection by 20.6% during the fourth quarter. Atria Investments Inc now owns 21,379 shares of the company's stock valued at $182,000 after purchasing an additional 3,656 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in Resources Connection in the 4th quarter worth about $241,000. 93.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Resources Connection

In other news, Director David P. White sold 5,204 shares of Resources Connection stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $5.26, for a total value of $27,373.04. Following the completion of the transaction, the director now owns 24,331 shares in the company, valued at $127,981.06. This trade represents a 17.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bhadreskumar Patel purchased 9,900 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $5.05 per share, for a total transaction of $49,995.00. Following the completion of the purchase, the chief operating officer now directly owns 131,099 shares in the company, valued at $662,049.95. This represents a 8.17 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 54,900 shares of company stock worth $279,295 in the last quarter. Insiders own 3.39% of the company's stock.

Resources Connection Stock Down 0.2 %

NASDAQ RGP traded down $0.01 during trading hours on Friday, reaching $5.50. 201,714 shares of the company were exchanged, compared to its average volume of 408,359. The stock has a market capitalization of $181.88 million, a P/E ratio of -2.96 and a beta of 0.60. Resources Connection, Inc. has a 1 year low of $4.81 and a 1 year high of $12.19. The business's 50 day simple moving average is $6.38 and its 200-day simple moving average is $7.72.

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.