Deutsche Bank AG Sells 114,272 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Deutsche Bank AG lowered its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 43.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,830 shares of the company’s stock after selling 114,272 shares during the quarter. Deutsche Bank AG owned 0.45% of Resources Connection worth $1,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RGP. D. E. Shaw & Co. Inc. grew its holdings in shares of Resources Connection by 50.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 315,665 shares of the company’s stock valued at $2,693,000 after acquiring an additional 105,984 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Resources Connection by 38.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock worth $8,220,000 after purchasing an additional 268,954 shares during the last quarter. Cresset Asset Management LLC grew its stake in Resources Connection by 11.7% in the 4th quarter. Cresset Asset Management LLC now owns 68,924 shares of the company’s stock valued at $588,000 after purchasing an additional 7,197 shares during the period. Bridgeway Capital Management LLC grew its stake in Resources Connection by 17.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 327,738 shares of the company’s stock valued at $2,796,000 after purchasing an additional 48,808 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Resources Connection by 58.4% during the 4th quarter. Ameriprise Financial Inc. now owns 343,820 shares of the company’s stock valued at $2,933,000 after purchasing an additional 126,796 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Resources Connection Stock Down 2.2%

Resources Connection stock opened at $4.94 on Monday. The firm has a 50 day moving average price of $5.70 and a 200-day moving average price of $7.31. Resources Connection, Inc. has a twelve month low of $4.81 and a twelve month high of $12.19. The company has a market capitalization of $163.36 million, a P/E ratio of -2.66 and a beta of 0.68.

Resources Connection Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 23rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 23rd. Resources Connection’s payout ratio is -8.54%.

Insider Buying and Selling at Resources Connection

In other news, CEO Kate W. Duchene acquired 20,000 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost 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. The trade was a 3.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bhadreskumar Patel bought 9,900 shares of the business’s stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $5.05 per share, with a total value of $49,995.00. Following the transaction, the chief operating officer now directly owns 131,099 shares of the company’s stock, valued at approximately $662,049.95. This trade represents a 8.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 54,900 shares of company stock valued at $279,295. Company insiders own 3.39% of the company’s stock.

Resources Connection 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.