JPMorgan Chase & Co. Has Lowered Expectations for Resources Connection (NASDAQ:RGP) Stock Price

Resources Connection (NASDAQ:RGP) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $9.50 to $5.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 3.85% from the stock’s current price.

Resources Connection Stock Down 2.3 %

NASDAQ:RGP opened at $5.20 on Thursday. The business’s 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $8.17. Resources Connection has a 52 week low of $4.81 and a 52 week high of $12.19. The stock has a market cap of $172.07 million, a PE ratio of -2.80 and a beta of 0.60.

Insider Buying and Selling at Resources Connection

In other news, Director Roger D. Carlile bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $253,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kate W. Duchene purchased 20,000 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $5.14 per share, with a total value of $102,800.00. Following the acquisition, the chief executive officer now directly owns 571,451 shares in the company, valued at $2,937,258.14. This represents a 3.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.39% of the company’s stock.

Institutional Trading of Resources Connection

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in shares of Resources Connection by 2,171.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company’s stock worth $44,000 after buying an additional 4,908 shares during the last quarter. Point72 DIFC Ltd grew its position in Resources Connection by 32.5% in the third quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock worth $69,000 after acquiring an additional 1,735 shares in the last quarter. Quarry LP bought a new stake in Resources Connection during the third quarter worth approximately $95,000. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 1,863 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Resources Connection in the 3rd quarter valued at approximately $106,000. 93.23% of the stock is owned by hedge funds and other institutional investors.

Resources Connection Company 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.