Numerai GP LLC Takes $1.30 Million Position in Resources Connection, Inc. (NASDAQ:RGP)

Numerai GP LLC purchased a new position in Resources Connection, Inc. (NASDAQ:RGP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 152,272 shares of the company’s stock, valued at approximately $1,299,000. Numerai GP LLC owned 0.46% of Resources Connection at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in Resources Connection by 2.8% in the 4th quarter. Rhumbline Advisers now owns 51,444 shares of the company’s stock worth $439,000 after acquiring an additional 1,387 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Resources Connection by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company’s stock worth $105,000 after purchasing an additional 1,863 shares in the last quarter. LPL Financial LLC lifted its holdings in Resources Connection by 6.2% in the 4th quarter. LPL Financial LLC now owns 48,762 shares of the company’s stock valued at $416,000 after purchasing an additional 2,837 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Resources Connection by 9.5% during the 4th quarter. Victory Capital Management Inc. now owns 40,399 shares of the company’s stock worth $345,000 after purchasing an additional 3,497 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of Resources Connection by 20.6% in the fourth quarter. Atria Investments Inc now owns 21,379 shares of the company’s stock valued at $182,000 after buying an additional 3,656 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, 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 value of $27,373.04. Following the sale, the director now directly owns 24,331 shares in the company, valued at approximately $127,981.06. The trade was a 17.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Bhadreskumar Patel bought 9,900 shares of the stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $5.05 per share, with a total value of $49,995.00. Following the purchase, the chief operating officer now owns 131,099 shares of the company’s stock, valued at $662,049.95. This trade represents a 8.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 54,900 shares of company stock valued at $279,295 over the last ninety days. Company insiders own 3.39% of the company’s stock.

Resources Connection Stock Down 3.0%

NASDAQ RGP opened at $5.53 on Wednesday. Resources Connection, Inc. has a 52 week low of $4.81 and a 52 week high of $12.19. The business’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $7.49. The firm has a market cap of $182.87 million, a PE ratio of -2.97 and a beta of 0.68.

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.