Resources Connection (NASDAQ:RGP) Upgraded at Wall Street Zen

Resources Connection (NASDAQ:RGP) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Resources Connection in a research report on Wednesday, October 8th. Northcoast Research started coverage on shares of Resources Connection in a research note on Wednesday, September 24th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Noble Financial reiterated an “outperform” rating on shares of Resources Connection in a research report on Monday, October 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Resources Connection has a consensus rating of “Hold” and a consensus price target of $6.00.

Resources Connection Trading Up 2.3%

Shares of NASDAQ RGP opened at $4.40 on Friday. Resources Connection has a 12-month low of $4.13 and a 12-month high of $9.96. The company has a market cap of $146.92 million, a PE ratio of -0.77 and a beta of 0.62. The stock has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $5.15.

Insider Transactions at Resources Connection

In other news, Director Anthony Cherbak sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $4.50, for a total transaction of $45,000.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $67,500. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kate W. Duchene acquired 23,015 shares of the stock in a transaction dated Wednesday, October 15th. The stock was acquired at an average cost of $4.36 per share, for a total transaction of $100,345.40. Following the purchase, the chief executive officer directly owned 590,234 shares in the company, valued at approximately $2,573,420.24. The trade was a 4.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 7.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Resources Connection

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC purchased a new position in Resources Connection in the 1st quarter worth about $1,431,000. Invenomic Capital Management LP boosted its holdings in shares of Resources Connection by 30.5% in the first quarter. Invenomic Capital Management LP now owns 788,952 shares of the company’s stock worth $5,160,000 after buying an additional 184,335 shares during the period. Royce & Associates LP boosted its holdings in shares of Resources Connection by 9.1% in the first quarter. Royce & Associates LP now owns 2,063,619 shares of the company’s stock worth $13,496,000 after buying an additional 172,158 shares during the period. Trexquant Investment LP increased its position in shares of Resources Connection by 189.6% in the first quarter. Trexquant Investment LP now owns 213,494 shares of the company’s stock worth $1,396,000 after acquiring an additional 139,761 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Resources Connection by 13.6% in the first quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company’s stock worth $6,189,000 after acquiring an additional 113,614 shares in the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

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.