Notable Mover: Is Selling Stock Like Resources Connection, Inc. After Such Decline Winning Strategy?

Notable Mover: Is Selling Stock Like Resources Connection, Inc. After Such Decline Winning Strategy?

The stock of Resources Connection, Inc. (NASDAQ:RECN) is a huge mover today! About 601,230 shares traded hands or 325.73% up from the average. Resources Connection, Inc. (NASDAQ:RECN) has risen 4.03% since March 3, 2016 and is uptrending. It has underperformed by 4.31% the S&P500.
The move comes after 5 months negative chart setup for the $476.33M company. It was reported on Oct, 6 by Barchart.com. We have $11.44 PT which if reached, will make NASDAQ:RECN worth $57.16M less.

According to Zacks Investment Research, “Resources Connection, Inc. is a professional services firm that provides experienced accounting and finance, human resources management and information technology professionals to clients on a project-by-project basis. In accounting and finance, they assist clients with discrete projects requiring specialized professional expertise, such as mergers and acquisitions due diligence, financial analyses and tax-related projects. They also provide human resources management services and information technology services.”

Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.43, from 1.1 in 2016Q1. The ratio turned negative, as 17 funds sold all Resources Connection, Inc. shares owned while 50 reduced positions. 14 funds bought stakes while 31 increased positions. They now own 31.18 million shares or 0.62% more from 30.99 million shares in 2016Q1.
Pinebridge Investments Limited Partnership last reported 0% of its portfolio in the stock. Gotham Asset Ltd Liability holds 0% or 15,596 shares in its portfolio. Airain Limited accumulated 13,057 shares or 0.01% of the stock. Moreover, Stoneridge Inv Prtn Ltd Co has 0.05% invested in Resources Connection, Inc. (NASDAQ:RECN) for 23,660 shares. Independent Port Consultants, a Florida-based fund reported 560 shares. Walleye Trading Limited Liability Company last reported 0% of its portfolio in the stock. Keeley Asset Mgmt Corporation, a Illinois-based fund reported 130,655 shares. Ahl Prtnrs Limited Liability Partnership last reported 0.02% of its portfolio in the stock. Ls Invest Advsrs Ltd, a Michigan-based fund reported 1,258 shares. Fisher Asset Management Limited Liability accumulated 226,997 shares or 0.01% of the stock. The Minnesota-based Ameriprise has invested 0% in Resources Connection, Inc. (NASDAQ:RECN). Moreover, Swiss Fincl Bank has 0% invested in Resources Connection, Inc. (NASDAQ:RECN) for 65,800 shares. Barclays Public Ltd Liability has 1,745 shares for 0% of their US portfolio. Strs Ohio has 0% invested in the company for 48,400 shares. Clarivest Asset Mgmt Ltd Liability accumulated 124,095 shares or 0.05% of the stock.

Insider Transactions: Since May 11, 2016, the stock had 0 insider buys, and 1 insider sale for $36,644 net activity. Shares for $36,644 were sold by Shih Anne on Wednesday, May 11.

More news for Resources Connection, Inc. (NASDAQ:RECN) were recently published by: Benzinga.com, which released: “Resource Connections Attempts To Recover From Double Dose Of Bad News” on October 06, 2016. Businesswire.com‘s article titled: “Resources Connection, Inc. Reports Third Quarter Results for Fiscal 2016” and published on April 07, 2016 is yet another important article.

RECN Company Profile

Resources Connection, Inc., incorporated on November 16, 1998, is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Firm provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory. The Firm provides its services and solutions to a client base in a range of industries.

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