Resources Connection, Inc. (NASDAQ:RGP) Sees Significant Growth in Short Interest

Resources Connection, Inc. (NASDAQ:RGP) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,030,000 shares, an increase of 30.7% from the November 15th total of 788,000 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 365,600 shares, the days-to-cover ratio is currently 2.8 days.

Resources Connection Price Performance

NASDAQ RGP traded down $0.15 on Friday, reaching $8.61. 461,332 shares of the company’s stock traded hands, compared to its average volume of 222,594. The stock has a market cap of $288.18 million, a PE ratio of 23.92, a P/E/G ratio of 3.48 and a beta of 0.68. Resources Connection has a 12 month low of $7.90 and a 12 month high of $14.63. The stock has a 50-day simple moving average of $8.45 and a 200 day simple moving average of $9.71.

Resources Connection (NASDAQ:RGP) last released its earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). The business had revenue of $136.94 million for the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. Resources Connection’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. As a group, analysts anticipate that Resources Connection will post 0.16 EPS for the current year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Friday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

Institutional Investors Weigh In On Resources Connection

Institutional investors have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its position in Resources Connection by 4.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock valued at $8,154,000 after buying an additional 34,570 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Resources Connection by 18.8% during the second quarter. AQR Capital Management LLC now owns 836,558 shares of the company’s stock worth $9,236,000 after purchasing an additional 132,586 shares during the period. Horrell Capital Management Inc. grew its stake in shares of Resources Connection by 16.4% in the third quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock worth $7,906,000 after purchasing an additional 115,000 shares during the last quarter. Circumference Group LLC increased its holdings in Resources Connection by 16.4% during the 3rd quarter. Circumference Group LLC now owns 815,000 shares of the company’s stock valued at $7,906,000 after purchasing an additional 115,000 shares during the period. Finally, Geode Capital Management LLC raised its position in Resources Connection by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 784,529 shares of the company’s stock valued at $7,611,000 after purchasing an additional 23,943 shares during the last quarter. 93.23% of the stock is currently owned by hedge funds and other 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.