Resources Connection (NASDAQ:RGP) Stock Rating Upgraded by Wall Street Zen

Resources Connection (NASDAQ:RGP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday, October 8th. Noble Financial reissued an “outperform” rating on shares of Resources Connection in a research report on Monday, October 13th. Finally, Northcoast Research started coverage on shares of Resources Connection in a research note on Wednesday, September 24th. They issued a “buy” rating and a $7.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Resources Connection Stock Performance

NASDAQ:RGP opened at $4.86 on Friday. The firm has a market capitalization of $162.28 million, a PE ratio of -0.85 and a beta of 0.51. The stock’s fifty day moving average is $4.64 and its 200 day moving average is $5.01. Resources Connection has a fifty-two week low of $4.13 and a fifty-two week high of $9.96.

Insider Transactions at Resources Connection

In other news, Director Anthony Cherbak sold 10,000 shares of Resources Connection stock in a transaction that occurred on 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 sale, the director owned 15,000 shares of the company’s stock, valued at approximately $67,500. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Core Value Fund L.P. Cg purchased 90,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average price of $4.52 per share, with a total value of $406,800.00. Following the acquisition, the director directly owned 1,379,243 shares of the company’s stock, valued at $6,234,178.36. This trade represents a 6.98% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 123,015 shares of company stock valued at $552,445. 7.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Resources Connection

Institutional investors have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new stake in Resources Connection in the third quarter worth about $268,000. Sherbrooke Park Advisers LLC purchased a new position in Resources Connection during the 3rd quarter valued at about $87,000. Quarry LP raised its holdings in shares of Resources Connection by 4,995.7% in the 3rd quarter. Quarry LP now owns 9,529 shares of the company’s stock valued at $48,000 after purchasing an additional 9,342 shares in the last quarter. Prelude Capital Management LLC lifted its position in shares of Resources Connection by 196.4% in the 3rd quarter. Prelude Capital Management LLC now owns 36,975 shares of the company’s stock worth $187,000 after purchasing an additional 24,500 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Resources Connection in the 3rd quarter worth approximately $85,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Company 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.