Resources Connection, Inc. $RGP Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,210 shares of the company’s stock after selling 8,811 shares during the period. Invesco Ltd. owned 0.29% of Resources Connection worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Resources Connection during the 1st quarter worth about $82,000. Assenagon Asset Management S.A. purchased a new stake in Resources Connection during the 1st quarter valued at about $637,000. GAMMA Investing LLC grew its stake in Resources Connection by 3,712.9% during the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company’s stock valued at $31,000 after acquiring an additional 4,604 shares in the last quarter. Two Sigma Advisers LP grew its stake in Resources Connection by 47.7% during the 4th quarter. Two Sigma Advisers LP now owns 114,506 shares of the company’s stock valued at $977,000 after acquiring an additional 37,000 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in 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 acquiring an additional 126,796 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell” and a consensus target price of $5.00.

Resources Connection Stock Performance

Shares of RGP stock opened at $5.07 on Friday. The firm’s 50 day moving average price is $5.16 and its 200-day moving average price is $5.67. Resources Connection, Inc. has a one year low of $4.44 and a one year high of $10.27. The firm has a market cap of $169.03 million, a P/E ratio of -0.87, a P/E/G ratio of 2.85 and a beta of 0.63.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.5%. Resources Connection’s dividend payout ratio is -4.81%.

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.