Invenomic Capital Management LP Has $5.16 Million Stake in Resources Connection, Inc. (NASDAQ:RGP)

Invenomic Capital Management LP increased its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,617 shares of the company’s stock after buying an additional 48,880 shares during the period. Invenomic Capital Management LP owned 1.83% of Resources Connection worth $5,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Resources Connection by 2,171.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company’s stock worth $44,000 after purchasing an additional 4,908 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $105,000 after acquiring an additional 1,863 shares during the last quarter. SG Americas Securities LLC bought a new stake in Resources Connection during the fourth quarter valued at $148,000. Sanctuary Advisors LLC grew its holdings in Resources Connection by 45.6% during the 4th quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company’s stock worth $148,000 after acquiring an additional 5,430 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Resources Connection by 32.0% in the 4th quarter. Wells Fargo & Company MN now owns 19,784 shares of the company’s stock worth $169,000 after acquiring an additional 4,796 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Price Performance

RGP stock opened at $5.45 on Monday. The stock has a market capitalization of $180.23 million, a PE ratio of -2.93 and a beta of 0.68. The company’s 50-day moving average is $6.03 and its 200-day moving average is $7.52. Resources Connection, Inc. has a 1 year low of $4.81 and a 1 year high of $12.19.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $5.06 per share, with a total value of $126,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $253,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. White sold 5,204 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $5.26, for a total transaction of $27,373.04. Following the completion of the transaction, the director now directly owns 24,331 shares of the company’s stock, valued at approximately $127,981.06. The trade was a 17.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 54,900 shares of company stock worth $279,295 in the last quarter. Insiders own 3.39% of the company’s stock.

Resources Connection Profile

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.