Vanguard Group Inc. Trims Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Vanguard Group Inc. reduced its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,866,734 shares of the company's stock after selling 132,088 shares during the quarter. Vanguard Group Inc. owned 5.64% of Resources Connection worth $15,923,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Resources Connection by 2,171.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock worth $44,000 after purchasing an additional 4,908 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Resources Connection in the third quarter valued at approximately $115,000. SG Americas Securities LLC purchased a new position in Resources Connection in the fourth quarter worth $148,000. FMR LLC increased its position in shares of Resources Connection by 403.4% during the third quarter. FMR LLC now owns 17,408 shares of the company's stock worth $169,000 after purchasing an additional 13,950 shares in the last quarter. Finally, Atria Investments Inc increased 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 worth $182,000 after purchasing an additional 3,656 shares in the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

Resources Connection Trading Down 1.5 %

Shares of NASDAQ:RGP traded down $0.08 on Friday, hitting $5.29. 308,237 shares of the company were exchanged, compared to its average volume of 409,037. The firm has a market capitalization of $174.94 million, a P/E ratio of -2.84 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 stock's 50 day moving average price is $6.64 and its 200 day moving average price is $7.81.

Insiders Place Their Bets

In related news, CEO Kate W. Duchene acquired 20,000 shares of Resources Connection stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $5.14 per share, for a total transaction of $102,800.00. Following the purchase, the chief executive officer now owns 571,451 shares of the company's stock, valued at approximately $2,937,258.14. This represents a 3.63 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Bhadreskumar Patel bought 9,900 shares of the stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $5.05 per share, for a total transaction of $49,995.00. Following the purchase, the chief operating officer now directly owns 131,099 shares of the company's stock, valued at approximately $662,049.95. The trade was a 8.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 54,900 shares of company stock valued at $279,295. 3.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price 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.

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.