Resources Connection, Inc. (NASDAQ:RGP) Short Interest Down 22.0% in November

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 788,000 shares, a decrease of 22.0% from the October 31st total of 1,010,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 384,100 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On Resources Connection

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC grew 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 worth $1,020,000 after buying an additional 104,833 shares during the period. nVerses Capital LLC acquired a new stake in shares of Resources Connection during the 3rd quarter worth approximately $60,000. Atria Investments Inc grew 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 worth $172,000 after buying an additional 1,547 shares during the period. Millennium Management LLC boosted its stake in Resources Connection by 438.5% during the 2nd quarter. Millennium Management LLC now owns 537,743 shares of the company's stock worth $5,937,000 after acquiring an additional 437,878 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its stake in 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 last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Resources Connection Price Performance

Shares of NASDAQ:RGP remained flat at $8.44 during midday trading on Friday. 91,263 shares of the stock were exchanged, compared to its average volume of 445,504. The business has a 50 day moving average price of $8.62 and a 200 day moving average price of $9.95. The stock has a market cap of $282.49 million, a price-to-earnings ratio of 23.44, a PEG ratio of 3.41 and a beta of 0.67. Resources Connection has a one year low of $7.90 and a one year high of $14.63.

Resources Connection (NASDAQ:RGP - Get Free Report) last announced its earnings results 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 firm had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company's revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. As a group, equities research analysts expect that Resources Connection will post 0.16 EPS for the current year.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection's payout ratio is presently 155.56%.

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.