Resources Connection, Inc. (NASDAQ:RGP) Sees Large Increase in Short Interest

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 699,100 shares, an increase of 20.5% from the February 13th total of 580,100 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 330,600 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On Resources Connection

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in Resources Connection by 2,171.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company’s stock valued at $44,000 after purchasing an additional 4,908 shares during the last quarter. Point72 DIFC Ltd boosted its holdings in shares of Resources Connection by 32.5% in the 3rd quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock valued at $69,000 after buying an additional 1,735 shares in the last quarter. Quarry LP purchased a new position in shares of Resources Connection in the 3rd quarter worth approximately $95,000. Intech Investment Management LLC bought a new position in shares of Resources Connection during the 3rd quarter worth approximately $106,000. Finally, Sanctuary Advisors LLC purchased a new stake in Resources Connection during the third quarter valued at approximately $115,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Resources Connection Stock Down 0.3 %

Shares of RGP stock opened at $6.84 on Thursday. The company’s 50 day moving average is $7.86 and its 200 day moving average is $8.44. The firm has a market cap of $226.34 million, a price-to-earnings ratio of -3.68 and a beta of 0.61. Resources Connection has a 52-week low of $6.71 and a 52-week high of $13.30.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 8.19%. The ex-dividend date was Friday, February 14th. Resources Connection’s payout ratio is -30.11%.

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.