Short Interest in Resources Connection, Inc. (NASDAQ:RGP) Declines By 18.4%

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) was the recipient of a large decline in short interest in 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. Approximately 2.6% of the company's stock are short sold. Based on an average daily trading volume, of 353,300 shares, the days-to-cover ratio is currently 2.4 days.

Resources Connection Stock Performance

RGP traded down $0.27 during trading on Monday, reaching $8.13. 443,687 shares of the stock were exchanged, compared to its average volume of 415,139. The stock's 50 day moving average price is $8.49 and its two-hundred day moving average price is $9.16. The stock has a market cap of $269.02 million, a P/E ratio of -4.37 and a beta of 0.66. Resources Connection has a twelve month low of $7.90 and a twelve month high of $14.29.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date is Friday, February 14th. Resources Connection's dividend payout ratio is -30.11%.

Institutional Trading of Resources Connection

Several large investors have recently made changes to their positions in RGP. Ieq Capital LLC acquired a new stake in Resources Connection in the fourth quarter worth $241,000. Sanctuary Advisors LLC grew its position in Resources Connection by 45.6% during the fourth quarter. Sanctuary Advisors LLC now owns 17,329 shares of the company's stock valued at $148,000 after buying an additional 5,430 shares during the period. Rhumbline Advisers grew its stake in shares of Resources Connection by 2.8% during the 4th quarter. Rhumbline Advisers now owns 51,444 shares of the company's stock worth $439,000 after acquiring an additional 1,387 shares during the period. Empowered Funds LLC lifted its position in shares of Resources Connection by 5.1% during the fourth quarter. Empowered Funds LLC now owns 166,538 shares of the company's stock worth $1,421,000 after acquiring an additional 8,108 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Resources Connection by 17.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,363 shares of the company's stock worth $302,000 after purchasing an additional 5,189 shares during the period. Institutional investors and hedge funds own 93.23% of the company's stock.

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.