Resources Connection, Inc. (NASDAQ:RGP) Short Interest Up 30.7% in November

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,030,000 shares, a growth of 30.7% from the November 15th total of 788,000 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 365,600 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Resources Connection

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC boosted its position in shares of Resources Connection by 35,178.9% during the 3rd quarter. Quest Partners LLC now owns 105,131 shares of the company's stock valued at $1,020,000 after acquiring an additional 104,833 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Resources Connection by 110.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,078 shares of the company's stock worth $515,000 after buying an additional 27,897 shares during the last quarter. Atria Investments Inc raised its position in shares of 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 buying an additional 1,547 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Resources Connection during the 3rd quarter worth $60,000. Finally, BNP Paribas Financial Markets grew its position in Resources Connection by 263.6% in the third quarter. BNP Paribas Financial Markets now owns 117,903 shares of the company's stock worth $1,144,000 after acquiring an additional 85,472 shares in the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Resources Connection Price Performance

Shares of NASDAQ:RGP traded down $0.15 during trading on Friday, hitting $8.61. 461,332 shares of the company were exchanged, compared to its average volume of 222,594. Resources Connection has a 52-week low of $7.90 and a 52-week high of $14.63. The stock has a 50 day moving average of $8.45 and a 200 day moving average of $9.71. The company has a market cap of $288.18 million, a PE ratio of 23.92, a P/E/G ratio of 3.48 and a beta of 0.68.

Resources Connection (NASDAQ:RGP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.21). The company had revenue of $136.94 million for the quarter, compared to analysts' expectations of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The business's revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. Sell-side analysts forecast that Resources Connection will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection's dividend payout ratio (DPR) is presently 155.56%.

About Resources Connection

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.

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