Resources Connection, Inc. (NASDAQ:RGP) Short Interest Update

Resources Connection, Inc. (NASDAQ:RGP) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 788,000 shares, a drop of 22.0% from the October 31st total of 1,010,000 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 384,100 shares, the days-to-cover ratio is presently 2.1 days.

Resources Connection Stock Performance

Shares of RGP remained flat at $8.44 during mid-day trading on Friday. 91,263 shares of the stock were exchanged, compared to its average volume of 283,519. Resources Connection has a 12-month low of $7.90 and a 12-month high of $14.63. The business has a 50-day simple moving average of $8.56 and a two-hundred day simple moving average of $9.89. The firm has a market cap of $282.50 million, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 3.41 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last issued its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21). The firm had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. Equities analysts anticipate that Resources Connection will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 6.64%. The ex-dividend date is Friday, November 15th. Resources Connection’s payout ratio is presently 155.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in Resources Connection by 66.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after purchasing an additional 1,019 shares during the last quarter. CWM LLC boosted its holdings in shares of Resources Connection by 883.5% in the second quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after buying an additional 3,048 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Resources Connection in the second quarter worth approximately $44,000. Point72 DIFC Ltd bought a new stake in Resources Connection during the second quarter valued at approximately $59,000. Finally, nVerses Capital LLC purchased a new stake in Resources Connection during the third quarter valued at approximately $60,000. Institutional investors own 93.23% of the company’s stock.

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.