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

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Resources Connection by 4.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company's stock valued at $8,154,000 after purchasing an additional 34,570 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Resources Connection by 18.8% in the 2nd quarter. AQR Capital Management LLC now owns 836,558 shares of the company's stock worth $9,236,000 after acquiring an additional 132,586 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Resources Connection by 16.4% during the 3rd quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company's stock worth $7,906,000 after acquiring an additional 115,000 shares during the period. Circumference Group LLC boosted its position in shares of Resources Connection by 16.4% during the 3rd quarter. Circumference Group LLC now owns 815,000 shares of the company's stock valued at $7,906,000 after acquiring an additional 115,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Resources Connection by 3.1% in the third quarter. Geode Capital Management LLC now owns 784,529 shares of the company's stock valued at $7,611,000 after purchasing an additional 23,943 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Resources Connection Stock Down 0.9 %

Shares of Resources Connection stock traded down $0.08 during trading hours on Friday, reaching $8.49. 325,074 shares of the company's stock were exchanged, compared to its average volume of 519,890. The business has a fifty day moving average of $8.50 and a two-hundred day moving average of $9.32. The company has a market capitalization of $280.77 million, a P/E ratio of -4.57 and a beta of 0.66. Resources Connection has a 1 year low of $7.90 and a 1 year high of $14.29.

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.