Resources Connection (NASDAQ:RGP) Director Anthony Cherbak Sells 10,000 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Anthony Cherbak sold 10,000 shares of the firm’s 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 sale, the director directly owned 15,000 shares of the company’s stock, valued at $67,500. This trade represents a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Resources Connection Stock Down 4.4%

Shares of RGP opened at $4.54 on Friday. The company has a market capitalization of $151.59 million, a P/E ratio of -0.79, a price-to-earnings-growth ratio of 2.64 and a beta of 0.62. The firm has a 50 day moving average of $4.95 and a 200 day moving average of $5.30. Resources Connection, Inc. has a twelve month low of $4.44 and a twelve month high of $9.96.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 6.2%. Resources Connection’s dividend payout ratio (DPR) is -4.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new position in shares of Resources Connection during the 2nd quarter valued at $107,000. State of Wyoming lifted its stake in shares of Resources Connection by 135.2% during the 2nd quarter. State of Wyoming now owns 33,972 shares of the company’s stock valued at $182,000 after buying an additional 19,531 shares in the last quarter. Oxford Asset Management LLP purchased a new position in shares of Resources Connection during the 2nd quarter valued at $168,000. BNP Paribas Financial Markets lifted its stake in shares of Resources Connection by 82.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 25,358 shares of the company’s stock valued at $136,000 after buying an additional 11,427 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Resources Connection by 3.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 377,146 shares of the company’s stock valued at $2,025,000 after buying an additional 11,077 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RGP shares. Wall Street Zen raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday. Finally, Northcoast Research initiated coverage on shares of Resources Connection in a report on Wednesday, September 24th. They issued a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Resources Connection currently has a consensus rating of “Reduce” and a consensus price target of $6.00.

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.