GAMMA Investing LLC Has $31,000 Stake in Resources Connection, Inc. (NASDAQ:RGP)

GAMMA Investing LLC raised its position in Resources Connection, Inc. (NASDAQ:RGP) by 3,712.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,728 shares of the company’s stock after purchasing an additional 4,604 shares during the quarter. GAMMA Investing LLC’s holdings in Resources Connection were worth $31,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Resources Connection by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company’s stock valued at $105,000 after acquiring an additional 1,863 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Resources Connection in the fourth quarter valued at about $116,000. Sanctuary Advisors LLC increased its position in shares of Resources Connection by 45.6% in the fourth quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company’s stock valued at $148,000 after acquiring an additional 5,430 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Resources Connection by 12.3% in the fourth quarter. Mackenzie Financial Corp now owns 17,527 shares of the company’s stock valued at $150,000 after acquiring an additional 1,921 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Resources Connection by 23.4% in the fourth quarter. State of Wyoming now owns 18,319 shares of the company’s stock valued at $156,000 after acquiring an additional 3,476 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Insiders Place Their Bets

In other news, Director Roger D. Carlile bought 25,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $5.06 per share, with a total value of $126,500.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $253,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kate W. Duchene bought 20,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $102,800.00. Following the transaction, the chief executive officer now directly owns 571,451 shares of the company’s stock, valued at $2,937,258.14. The trade was a 3.63% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 54,900 shares of company stock valued at $279,295 over the last 90 days. 3.39% of the stock is currently owned by insiders.

Resources Connection Stock Performance

NASDAQ:RGP opened at $5.42 on Friday. The stock’s 50-day simple moving average is $5.39 and its 200 day simple moving average is $6.79. The company has a market cap of $179.24 million, a P/E ratio of -1.65, a P/E/G ratio of 0.42 and a beta of 0.64. Resources Connection, Inc. has a 52-week low of $4.81 and a 52-week high of $12.19.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Monday, June 23rd. Resources Connection’s dividend payout ratio (DPR) is presently -8.54%.

Wall Street Analyst Weigh In

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