Russell Investments Group Ltd. Acquires 156,280 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Russell Investments Group Ltd. grew its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 832,786 shares of the company's stock after purchasing an additional 156,280 shares during the quarter. Russell Investments Group Ltd. owned approximately 2.52% of Resources Connection worth $7,104,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of RGP. Tieton Capital Management LLC grew its position in shares of Resources Connection by 42.4% during the 4th quarter. Tieton Capital Management LLC now owns 823,108 shares of the company's stock worth $7,021,000 after buying an additional 245,022 shares during the period. Horrell Capital Management Inc. boosted its stake in Resources Connection by 30.1% during the fourth quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company's stock worth $9,042,000 after acquiring an additional 245,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Resources Connection by 196.2% during the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock worth $2,232,000 after acquiring an additional 173,333 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Resources Connection by 13.1% in the fourth quarter. Brandes Investment Partners LP now owns 397,095 shares of the company's stock worth $3,387,000 after purchasing an additional 45,864 shares during the period. Finally, Barclays PLC increased its stake in Resources Connection by 194.4% in the third quarter. Barclays PLC now owns 48,280 shares of the company's stock valued at $468,000 after purchasing an additional 31,879 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Roger D. Carlile acquired 25,000 shares of the company's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $253,000. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kate W. Duchene bought 20,000 shares of Resources Connection stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $5.14 per share, with a total value of $102,800.00. Following the purchase, the chief executive officer now owns 571,451 shares in the company, valued at approximately $2,937,258.14. This represents a 3.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 54,900 shares of company stock worth $279,295 over the last three months. 3.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Resources Connection Trading Down 1.5 %

NASDAQ RGP traded down $0.08 during mid-day trading on Friday, hitting $5.29. The company's stock had a trading volume of 308,237 shares, compared to its average volume of 408,563. The firm has a market capitalization of $174.94 million, a price-to-earnings ratio of -2.84 and a beta of 0.60. The company's 50 day simple moving average is $6.70 and its 200 day simple moving average is $7.84. Resources Connection, Inc. has a twelve month low of $4.81 and a twelve month high of $12.19.

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.