Resources Connection, Inc. (NASDAQ:RGP) Short Interest Up 20.5% in February

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 699,100 shares, an increase of 20.5% from the February 13th total of 580,100 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 330,600 shares, the short-interest ratio is presently 2.1 days.

Resources Connection Trading Down 0.3 %

Shares of NASDAQ:RGP opened at $6.84 on Thursday. The company has a market capitalization of $226.34 million, a price-to-earnings ratio of -3.68 and a beta of 0.61. Resources Connection has a 12 month low of $6.71 and a 12 month high of $13.30. The firm’s 50-day moving average is $7.86 and its 200 day moving average is $8.44.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.14 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.56 annualized dividend and a dividend yield of 8.19%. Resources Connection’s payout ratio is -30.11%.

Institutional Trading of Resources Connection

Several institutional investors and hedge funds have recently made changes to their positions in the business. Deprince Race & Zollo Inc. grew its stake in Resources Connection by 38.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company’s stock worth $8,220,000 after purchasing an additional 268,954 shares in the last quarter. Tieton Capital Management LLC lifted its holdings in shares of Resources Connection by 42.4% in the 4th quarter. Tieton Capital Management LLC now owns 823,108 shares of the company’s stock worth $7,021,000 after buying an additional 245,022 shares during the period. Horrell Capital Management Inc. grew its position in shares of Resources Connection by 30.1% during the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company’s stock worth $9,042,000 after buying an additional 245,000 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Resources Connection during the third quarter valued at $1,895,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Resources Connection by 196.2% in the fourth quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company’s stock valued at $2,232,000 after acquiring an additional 173,333 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.

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.