Resources Connection, Inc. (NASDAQ:RGP) Short Interest Update

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 840,100 shares, a decline of 18.4% from the December 31st total of 1,030,000 shares. Based on an average trading volume of 353,300 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of 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 valued at $44,000 after buying an additional 4,908 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Resources Connection in the second quarter valued at approximately $59,000. nVerses Capital LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at $60,000. Quarry LP purchased a new position in shares of Resources Connection during the third quarter worth about $95,000. Finally, Intech Investment Management LLC purchased a new stake in Resources Connection in the third quarter valued at approximately $106,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Performance

Shares of RGP stock traded up $0.01 during trading hours on Thursday, reaching $8.54. The company had a trading volume of 58,570 shares, compared to its average volume of 417,279. Resources Connection has a 12-month low of $7.90 and a 12-month high of $14.29. The company has a market capitalization of $282.59 million, a price-to-earnings ratio of -4.59 and a beta of 0.66. The stock has a fifty day moving average of $8.49 and a 200-day moving average of $9.20.

Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend is Friday, February 14th. Resources Connection’s dividend payout ratio (DPR) is presently -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.