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

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 699,100 shares, a growth of 20.5% from the February 13th total of 580,100 shares. Based on an average daily trading volume, of 330,600 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.2% of the company's shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in Resources Connection by 2,171.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock worth $44,000 after purchasing an additional 4,908 shares in the last quarter. Point72 DIFC Ltd lifted its holdings in Resources Connection by 32.5% during the 3rd quarter. Point72 DIFC Ltd now owns 7,074 shares of the company's stock worth $69,000 after buying an additional 1,735 shares during the last quarter. Quarry LP purchased a new stake in Resources Connection during the 3rd quarter worth about $95,000. Price T Rowe Associates Inc. MD lifted its holdings in Resources Connection by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock worth $105,000 after buying an additional 1,863 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Resources Connection during the 3rd quarter worth about $106,000. 93.23% of the stock is owned by institutional investors and hedge funds.

Resources Connection Stock Performance

Shares of NASDAQ RGP traded down $0.08 during trading on Friday, reaching $6.77. The stock had a trading volume of 520,474 shares, compared to its average volume of 396,057. Resources Connection has a fifty-two week low of $6.71 and a fifty-two week high of $13.30. The business's 50-day moving average price is $7.79 and its 200-day moving average price is $8.41. The company has a market cap of $224.03 million, a P/E ratio of -3.64 and a beta of 0.61.

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Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, February 14th. This represents a $0.56 annualized dividend and a yield of 8.27%. 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.