Short Interest in Resources Connection, Inc. (NASDAQ:RGP) Decreases By 22.0%

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

Resources Connection Stock Performance

Shares of NASDAQ:RGP opened at $8.44 on Friday. The firm has a 50 day simple moving average of $8.62 and a 200 day simple moving average of $9.95. Resources Connection has a 52 week low of $7.90 and a 52 week high of $14.63. The company has a market cap of $282.49 million, a PE 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 quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The business had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, equities analysts predict that Resources Connection will post 0.16 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is presently 155.56%.

Institutional Trading of Resources Connection

Several large investors have recently added to or reduced their stakes in RGP. Sanctuary Advisors LLC acquired a new stake in shares of Resources Connection in the 3rd quarter valued at $115,000. Barclays PLC raised its holdings in Resources Connection by 194.4% during the third quarter. Barclays PLC now owns 48,280 shares of the company’s stock valued at $468,000 after buying an additional 31,879 shares in the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Resources Connection by 32.8% in the third quarter. Arete Wealth Advisors LLC now owns 17,877 shares of the company’s stock worth $173,000 after buying an additional 4,418 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Resources Connection by 3.1% in the third quarter. Geode Capital Management LLC now owns 784,529 shares of the company’s stock worth $7,611,000 after buying an additional 23,943 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Resources Connection by 7.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,957 shares of the company’s stock worth $514,000 after acquiring an additional 3,665 shares in the last quarter. 93.23% of the stock is 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.