Savant Capital LLC Takes $88,000 Position in Resources Connection, Inc. $RGP

Savant Capital LLC acquired a new position in shares of Resources Connection, Inc. (NASDAQ:RGP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,438 shares of the company’s stock, valued at approximately $88,000.

Several other institutional investors have also recently bought and sold shares of RGP. Cerity Partners LLC acquired a new position in Resources Connection during the 1st quarter worth approximately $139,000. CWM LLC boosted its holdings in Resources Connection by 38.0% during the first quarter. CWM LLC now owns 15,243 shares of the company’s stock worth $100,000 after purchasing an additional 4,199 shares during the last quarter. AE Wealth Management LLC bought a new position in Resources Connection in the first quarter valued at $187,000. Royce & Associates LP increased its stake in Resources Connection by 9.1% in the 1st quarter. Royce & Associates LP now owns 2,063,619 shares of the company’s stock valued at $13,496,000 after buying an additional 172,158 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Resources Connection by 30.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 482,919 shares of the company’s stock valued at $3,158,000 after buying an additional 113,114 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RGP shares. Wall Street Zen cut Resources Connection from a “hold” rating to a “sell” rating in a report on Sunday, November 9th. Noble Financial restated an “outperform” rating on shares of Resources Connection in a research note on Monday, October 13th. Northcoast Research started coverage on Resources Connection in a research note on Wednesday, September 24th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Resources Connection in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Resources Connection Stock Performance

Resources Connection stock opened at $4.83 on Friday. The stock has a 50-day simple moving average of $4.73 and a 200 day simple moving average of $5.05. The stock has a market capitalization of $161.27 million, a P/E ratio of -0.84 and a beta of 0.60. Resources Connection, Inc. has a 52 week low of $4.13 and a 52 week high of $9.96.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.8%. Resources Connection’s payout ratio is presently -4.90%.

Insider Buying and Selling

In other Resources Connection news, CEO Kate W. Duchene purchased 23,015 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were acquired at an average price of $4.36 per share, for a total transaction of $100,345.40. Following the purchase, the chief executive officer owned 590,234 shares in the company, valued at approximately $2,573,420.24. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Core Value Fund L.P. Cg purchased 90,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average cost of $4.52 per share, with a total value of $406,800.00. Following the acquisition, the director directly owned 1,379,243 shares in the company, valued at approximately $6,234,178.36. The trade was a 6.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 123,015 shares of company stock valued at $552,445. 7.91% of the stock is owned by 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.