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

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 580,100 shares, a decline of 21.0% from the January 31st total of 734,100 shares. Based on an average trading volume of 322,600 shares, the short-interest ratio is presently 1.8 days. Currently, 1.8% of the shares of the company are short sold.

Resources Connection Trading Down 0.9 %

Resources Connection stock traded down $0.07 during trading on Thursday, reaching $7.04. The company had a trading volume of 20,437 shares, compared to its average volume of 323,447. The firm’s 50-day simple moving average is $8.19 and its 200 day simple moving average is $8.67. The firm has a market capitalization of $232.80 million, a price-to-earnings ratio of -3.78 and a beta of 0.61. Resources Connection has a 52 week low of $6.94 and a 52 week high of $14.20.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.14 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.96%. Resources Connection’s dividend payout ratio (DPR) is presently -30.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RGP. Quest Partners LLC boosted its stake in Resources Connection by 35,178.9% in the 3rd quarter. Quest Partners LLC now owns 105,131 shares of the company’s stock worth $1,020,000 after purchasing an additional 104,833 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Resources Connection by 110.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,078 shares of the company’s stock worth $515,000 after purchasing an additional 27,897 shares in the last quarter. Atria Investments Inc increased its position in Resources Connection by 9.6% during the 3rd quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock valued at $172,000 after purchasing an additional 1,547 shares during the period. BNP Paribas Financial Markets grew its stake in Resources Connection by 263.6% in the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company’s stock valued at $1,144,000 after purchasing an additional 85,472 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Resources Connection by 194.4% during the third quarter. Barclays PLC now owns 48,280 shares of the company’s stock worth $468,000 after purchasing an additional 31,879 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

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.