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Bhadreskumar Patel, the Chief Operating Officer of Resources Connection, Inc. (NASDAQ:RGP), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. The purchase comes as the stock trades near its 52-week low of $4.81, with InvestingPro data indicating the stock is currently undervalued. On April 7, Patel purchased 9,900 shares of common stock, with the transaction valued at approximately $50,002. The shares were bought at a weighted average price of $5.0508, with individual transaction prices ranging from $5.0399 to $5.06. The company maintains a strong financial position with more cash than debt and offers a significant 10.92% dividend yield to shareholders.
In addition to the purchase, the filing also disclosed that 2,268.7468 shares were withheld by the issuer to satisfy tax obligations related to the payout of vested restricted stock units previously granted to Patel. This transaction was valued at $11,638, with the shares priced at $5.13 each. Following these transactions, Patel now holds 128,829.881 shares of Resources Connection directly. For deeper insights into insider trading patterns and 14+ additional ProTips, visit InvestingPro, where you'll find comprehensive analysis in our Pro Research Report.
In other recent news, Resources Connection Inc. reported its second-quarter 2025 earnings, which surpassed analysts' expectations. The company posted an earnings per share (EPS) of -$0.08, beating the forecasted -$0.11, and achieved a revenue of $129.4 million, slightly above the anticipated $129.42 million. Despite these positive results, the company reported a significant non-cash goodwill impairment charge of $42 million. Resources Connection maintains a strong cash position with $73 million in cash and no outstanding debt. Analysts from NOBLE Capital and Baird highlighted the company's strategic initiatives and cost management efforts during the earnings call. The company anticipates fourth-quarter revenue to range between $132 million and $137 million, with a gross margin expected between 36% and 37%. CEO Kate Duchene emphasized the company's focus on nurturing key relationships and strategic flexibility. Additionally, the company continues to face macroeconomic challenges and geopolitical tensions, which could impact its consulting market performance.
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