Assenagon Asset Management S.A. Makes New $637,000 Investment in Resources Connection, Inc. (NASDAQ:RGP)

Assenagon Asset Management S.A. acquired a new position in Resources Connection, Inc. (NASDAQ:RGP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 97,350 shares of the company’s stock, valued at approximately $637,000. Assenagon Asset Management S.A. owned about 0.29% of Resources Connection at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RGP. Rhumbline Advisers boosted its position in Resources Connection by 2.8% in the fourth quarter. Rhumbline Advisers now owns 51,444 shares of the company’s stock worth $439,000 after purchasing an additional 1,387 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Resources Connection by 45.6% in the fourth quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company’s stock worth $148,000 after purchasing an additional 5,430 shares during the last quarter. Ieq Capital LLC purchased a new position in Resources Connection in the fourth quarter worth $241,000. Bank of New York Mellon Corp boosted its position in Resources Connection by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 455,344 shares of the company’s stock worth $3,884,000 after purchasing an additional 25,236 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Resources Connection by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 40,399 shares of the company’s stock worth $345,000 after purchasing an additional 3,497 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Price Performance

Shares of NASDAQ RGP opened at $5.49 on Thursday. Resources Connection, Inc. has a one year low of $4.81 and a one year high of $12.19. The business’s fifty day moving average price is $5.39 and its 200-day moving average price is $6.92. The stock has a market capitalization of $181.55 million, a PE ratio of -1.67, a P/E/G ratio of 0.43 and a beta of 0.64.

Resources Connection Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 23rd. Resources Connection’s dividend payout ratio is presently -17.07%.

Insider Activity

In related news, Director David P. White sold 5,204 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $5.26, for a total transaction of $27,373.04. Following the sale, the director now directly owns 24,331 shares in the company, valued at approximately $127,981.06. The trade was a 17.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kate W. Duchene acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $5.14 per share, for a total transaction of $102,800.00. Following the completion of the purchase, the chief executive officer now owns 571,451 shares in the company, valued at $2,937,258.14. This trade represents a 3.63% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 54,900 shares of company stock valued at $279,295 in the last 90 days. Insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

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

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.