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

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 580,100 shares, a drop of 21.0% from the January 31st total of 734,100 shares. Based on an average daily trading volume, of 322,600 shares, the short-interest ratio is currently 1.8 days. Approximately 1.8% of the shares of the stock are short sold.

Resources Connection Stock Up 1.3 %

NASDAQ:RGP traded up $0.09 during trading hours on Friday, hitting $7.28. 164,955 shares of the company's stock traded hands, compared to its average volume of 325,381. The firm has a market cap of $240.90 million, a P/E ratio of -3.91 and a beta of 0.61. Resources Connection has a 52 week low of $6.94 and a 52 week high of $14.20. The business's fifty day simple moving average is $8.15 and its two-hundred day simple moving average is $8.63.

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Friday, February 14th. Resources Connection's dividend payout ratio is -30.11%.

Institutional Investors Weigh In On Resources Connection

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Resources Connection by 2,171.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company's stock valued at $44,000 after purchasing an additional 4,908 shares in the last quarter. Point72 DIFC Ltd raised its position in Resources Connection by 32.5% during the third quarter. Point72 DIFC Ltd now owns 7,074 shares of the company's stock valued at $69,000 after purchasing an additional 1,735 shares in the last quarter. Quarry LP purchased a new stake in Resources Connection during the third quarter valued at about $95,000. Intech Investment Management LLC purchased a new stake in Resources Connection during the third quarter valued at about $106,000. Finally, Sanctuary Advisors LLC purchased a new stake in Resources Connection during the third quarter valued at about $115,000. Hedge funds and other institutional investors own 93.23% of the company's stock.

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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.