Resources Connection (NASDAQ:RGP) Shares Down 2.5%

Shares of Resources Connection, Inc. (NASDAQ:RGP – Get Rating) dropped 2.5% during mid-day trading on Friday . The stock traded as low as $16.44 and last traded at $16.45. Approximately 3,647 shares were traded during trading, a decline of 99% from the average daily volume of 292,560 shares. The stock had previously closed at $16.88.

Analyst Ratings Changes

RGP has been the subject of several research analyst reports. Bank of America upgraded Resources Connection from an “underperform” rating to a “neutral” rating in a report on Monday, November 14th. StockNews.com downgraded shares of Resources Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, January 6th.

Resources Connection Stock Performance

The stock has a market cap of $557.32 million, a price-to-earnings ratio of 7.43 and a beta of 0.78. The company’s 50-day simple moving average is $18.44 and its 200-day simple moving average is $19.01. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.05.

Insider Transactions at Resources Connection

In other Resources Connection news, Director Anthony Cherbak sold 30,000 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $16.36, for a total transaction of $490,800.00. Following the sale, the director now owns 45,788 shares in the company, valued at approximately $749,091.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 7.46% of the company’s stock.

Institutional Trading of Resources Connection

Hedge funds have recently modified their holdings of the business. Covestor Ltd raised its position in Resources Connection by 483.7% during the first quarter. Covestor Ltd now owns 1,652 shares of the company’s stock valued at $28,000 after buying an additional 1,369 shares during the period. Captrust Financial Advisors lifted its position in shares of Resources Connection by 41.7% in the first quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock worth $46,000 after purchasing an additional 783 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Resources Connection by 18.6% in the second quarter. Mutual of America Capital Management LLC now owns 5,226 shares of the company’s stock worth $106,000 after purchasing an additional 820 shares in the last quarter. UBS Group AG boosted its holdings in shares of Resources Connection by 38.8% during the third quarter. UBS Group AG now owns 6,553 shares of the company’s stock worth $119,000 after purchasing an additional 1,833 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Resources Connection by 237.5% during the third quarter. Tower Research Capital LLC TRC now owns 7,085 shares of the company’s stock valued at $128,000 after purchasing an additional 4,986 shares in the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.

Resources Connection Company Profile

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Resources Connection Inc engages in the provision of business consulting services. It offers consulting and business initiative support services to its global client base in the areas of accounting, finance, corporate governance risk and compliance management, corporate advisory strategic communications and restructuring, information management, human capital, supply chain management, healthcare solutions, and legal and regulatory.