Resources Connection (NASDAQ:RGP) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Resources Connection (NASDAQ:RGP) from a strong sell rating to a hold rating in a report released on Saturday morning.

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

Resources Connection Stock Up 9.9%

RGP stock opened at $5.79 on Friday. The company has a market cap of $191.48 million, a price-to-earnings ratio of -0.99, a PEG ratio of 1.29 and a beta of 0.64. The business has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $6.36. Resources Connection has a 52 week low of $4.81 and a 52 week high of $12.19.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 23rd were issued a $0.07 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.28 annualized dividend and a yield of 4.84%. Resources Connection’s dividend payout ratio is currently -4.81%.

Institutional Trading of Resources Connection

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Resources Connection by 3,712.9% in the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company’s stock valued at $31,000 after purchasing an additional 4,604 shares in the last quarter. Strs Ohio acquired a new stake in Resources Connection in the 1st quarter valued at $48,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Resources Connection in the 1st quarter valued at $82,000. Capital Investment Advisors LLC acquired a new stake in Resources Connection in the 1st quarter valued at $90,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Resources Connection in the 2nd quarter valued at $99,000. 93.23% of the stock is currently 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.