Resources Connection, Inc. (NASDAQ:RGP) Short Interest Down 21.0% in February

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

Institutional Trading of Resources Connection

Hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. raised its holdings in shares of Resources Connection by 38.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock valued at $8,220,000 after buying an additional 268,954 shares during the last quarter. Tieton Capital Management LLC boosted its holdings in Resources Connection by 42.4% in the fourth quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock valued at $7,021,000 after acquiring an additional 245,022 shares during the last quarter. Horrell Capital Management Inc. increased its position in Resources Connection by 30.1% in the fourth quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock worth $9,042,000 after purchasing an additional 245,000 shares during the period. Walleye Capital LLC bought a new stake in Resources Connection during the 3rd quarter worth about $1,895,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Resources Connection by 196.2% during the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company’s stock worth $2,232,000 after purchasing an additional 173,333 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Trading Up 0.8 %

RGP stock traded up $0.05 during trading on Tuesday, hitting $7.11. The company had a trading volume of 107,910 shares, compared to its average volume of 328,675. The company has a fifty day moving average price of $8.24 and a two-hundred day moving average price of $8.70. Resources Connection has a fifty-two week low of $7.03 and a fifty-two week high of $14.20. The company has a market cap of $235.41 million, a P/E ratio of -3.82 and a beta of 0.66.

Resources Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend is Friday, February 14th. Resources Connection’s dividend payout ratio is currently -30.11%.

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.