Resources Connection, Inc. (NASDAQ:RGP) CEO Kate W. Duchene Buys 20,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) CEO Kate W. Duchene bought 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Resources Connection Stock Down 2.3 %

NASDAQ:RGP opened at $5.20 on Friday. The stock has a fifty day simple moving average of $7.36 and a 200 day simple moving average of $8.17. The firm has a market capitalization of $172.07 million, a price-to-earnings ratio of -2.80 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.

Resources Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 10.77%. The ex-dividend date of this dividend was Friday, February 14th. Resources Connection’s dividend payout ratio (DPR) is currently -17.07%.

Institutional Investors Weigh In On Resources Connection

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Resources Connection by 2.8% during the 4th quarter. Rhumbline Advisers now owns 51,444 shares of the company’s stock valued at $439,000 after purchasing an additional 1,387 shares during the period. Point72 DIFC Ltd grew its holdings in shares of Resources Connection by 32.5% during the third quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock valued at $69,000 after buying an additional 1,735 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Resources Connection by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company’s stock valued at $105,000 after buying an additional 1,863 shares during the period. Mackenzie Financial Corp lifted its stake in Resources Connection by 12.3% in the 4th quarter. Mackenzie Financial Corp now owns 17,527 shares of the company’s stock worth $150,000 after acquiring an additional 1,921 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Resources Connection by 6.2% during the 4th quarter. LPL Financial LLC now owns 48,762 shares of the company’s stock worth $416,000 after acquiring an additional 2,837 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price target on Resources Connection from $9.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday.

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.