Deprince Race & Zollo Inc. Sells 332,661 Shares of Resources Connection, Inc. $RGP

Deprince Race & Zollo Inc. decreased its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 31.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 737,384 shares of the company’s stock after selling 332,661 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 2.21% of Resources Connection worth $3,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Invenomic Capital Management LP lifted its position in Resources Connection by 30.5% during the 1st 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 in the last quarter. AQR Capital Management LLC raised its holdings in Resources Connection by 13.0% during the first quarter. AQR Capital Management LLC now owns 714,138 shares of the company’s stock worth $4,670,000 after acquiring an additional 82,099 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Resources Connection by 6.9% during the second quarter. Brandes Investment Partners LP now owns 590,400 shares of the company’s stock worth $3,170,000 after acquiring an additional 38,192 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Resources Connection by 25.5% during the second quarter. Ameriprise Financial Inc. now owns 480,170 shares of the company’s stock valued at $2,579,000 after purchasing an additional 97,602 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Resources Connection by 3.0% in the second quarter. Bridgeway Capital Management LLC now owns 377,146 shares of the company’s stock valued at $2,025,000 after purchasing an additional 11,077 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Stock Performance

RGP stock opened at $5.26 on Monday. Resources Connection, Inc. has a 52 week low of $4.13 and a 52 week high of $9.96. The company has a market capitalization of $175.63 million, a PE ratio of -0.92 and a beta of 0.51. The company’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $5.00.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, November 14th. Resources Connection’s payout ratio is presently -4.90%.

Insider Activity at Resources Connection

In other Resources Connection news, Director Anthony Cherbak sold 10,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $4.50, for a total transaction of $45,000.00. Following the transaction, the director owned 15,000 shares in the company, valued at $67,500. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kate W. Duchene acquired 23,015 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was bought at an average cost of $4.36 per share, with a total value of $100,345.40. Following the completion of the acquisition, the chief executive officer directly owned 590,234 shares in the company, valued at approximately $2,573,420.24. This represents a 4.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 123,015 shares of company stock worth $552,445. Company insiders own 7.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RGP. Weiss Ratings reissued a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday, October 8th. Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Northcoast Research assumed coverage on shares of Resources Connection in a research report on Wednesday, September 24th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Resources Connection in a report on Monday, October 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Resources Connection presently has a consensus rating of “Hold” and an average price target of $6.00.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.