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

Resources Connection, Inc. (NASDAQ:RGP) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 840,100 shares, a decrease of 18.4% from the December 15th total of 1,030,000 shares. Based on an average trading volume of 353,300 shares, the short-interest ratio is presently 2.4 days. Currently, 2.6% of the company’s shares are short sold.

Resources Connection Price Performance

Shares of NASDAQ:RGP traded down $0.06 during mid-day trading on Friday, reaching $8.50. 458,652 shares of the company were exchanged, compared to its average volume of 412,138. The firm has a market cap of $281.27 million, a price-to-earnings ratio of -4.57 and a beta of 0.66. Resources Connection has a 1 year low of $7.90 and a 1 year high of $14.29. The firm’s 50-day simple moving average is $8.49 and its 200 day simple moving average is $9.30.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.56 annualized dividend and a yield of 6.59%. Resources Connection’s dividend payout ratio is presently -30.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its holdings in Resources Connection by 2,171.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,134 shares of the company’s stock valued at $44,000 after buying an additional 4,908 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Resources Connection during the 2nd quarter worth about $59,000. nVerses Capital LLC purchased a new position in shares of Resources Connection in the 3rd quarter valued at about $60,000. Quarry LP acquired a new stake in shares of Resources Connection during the 3rd quarter worth about $95,000. Finally, DRW Securities LLC purchased a new stake in Resources Connection during the second quarter worth approximately $111,000. 93.23% of the stock is owned by institutional investors and hedge funds.

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.