Deprince Race & Zollo Inc. Boosts Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Deprince Race & Zollo Inc. raised its stake in Resources Connection, Inc. (NASDAQ:RGP) by 38.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 963,619 shares of the company’s stock after acquiring an additional 268,954 shares during the period. Deprince Race & Zollo Inc.’s holdings in Resources Connection were worth $8,220,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RGP. Horrell Capital Management Inc. increased its holdings in shares of Resources Connection by 30.1% in the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock worth $9,042,000 after buying an additional 245,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in Resources Connection by 23.1% during the fourth quarter. Russell Investments Group Ltd. now owns 832,786 shares of the company’s stock valued at $7,104,000 after purchasing an additional 156,280 shares during the period. Tieton Capital Management LLC lifted its stake in shares of Resources Connection by 42.4% in the 4th quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock valued at $7,021,000 after purchasing an additional 245,022 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Resources Connection by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 797,028 shares of the company’s stock worth $6,800,000 after purchasing an additional 12,499 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Resources Connection by 10.4% during the 4th quarter. AQR Capital Management LLC now owns 632,039 shares of the company’s stock valued at $5,391,000 after purchasing an additional 59,725 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Price Performance

Shares of NASDAQ RGP opened at $5.63 on Friday. Resources Connection, Inc. has a 1 year low of $4.81 and a 1 year high of $12.19. The firm has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $7.55. The company has a market cap of $186.01 million, a P/E ratio of -3.02 and a beta of 0.68.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target on Resources Connection from $9.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, April 3rd.

Insider Transactions at Resources Connection

In related news, COO Bhadreskumar Patel purchased 9,900 shares of Resources Connection stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of $5.05 per share, with a total value of $49,995.00. Following the purchase, the chief operating officer now directly owns 131,099 shares of the company’s stock, valued at approximately $662,049.95. This represents a 8.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. White sold 5,204 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $5.26, for a total transaction of $27,373.04. Following the completion of the sale, the director now directly owns 24,331 shares of the company’s stock, valued at approximately $127,981.06. This trade represents a 17.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 54,900 shares of company stock worth $279,295. 3.39% of the stock is currently owned by company insiders.

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.