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

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a significant drop in short interest during 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 volume of 322,600 shares, the short-interest ratio is currently 1.8 days. Approximately 1.8% of the company’s stock are sold short.

Resources Connection Trading Up 0.8 %

NASDAQ RGP traded up $0.05 on Tuesday, reaching $7.11. The stock had a trading volume of 107,910 shares, compared to its average volume of 328,675. Resources Connection has a 1 year low of $7.03 and a 1 year high of $14.20. The business has a 50 day moving average price of $8.24 and a 200 day moving average price of $8.70. The company has a market capitalization of $235.41 million, a price-to-earnings ratio of -3.82 and a beta of 0.66.

Resources Connection Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Atria Investments Inc increased its stake in Resources Connection by 9.6% during the third quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock valued at $172,000 after acquiring an additional 1,547 shares during the period. Access Investment Management LLC boosted its stake in Resources Connection by 19.0% during the third quarter. Access Investment Management LLC now owns 157,735 shares of the company’s stock worth $1,530,000 after buying an additional 25,180 shares in the last quarter. Aigen Investment Management LP increased its holdings in Resources Connection by 99.0% in the 3rd quarter. Aigen Investment Management LP now owns 37,730 shares of the company’s stock valued at $366,000 after buying an additional 18,774 shares during the period. Victory Capital Management Inc. raised its stake in shares of Resources Connection by 170.9% in the 3rd quarter. Victory Capital Management Inc. now owns 36,902 shares of the company’s stock valued at $358,000 after buying an additional 23,279 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Resources Connection by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 158,430 shares of the company’s stock worth $1,537,000 after acquiring an additional 8,040 shares during the period. Institutional investors and hedge funds 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.