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

Resources Connection, Inc. (NASDAQ:RGP) was the recipient of a large decline in short interest during 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. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 384,100 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in shares of Resources Connection during the third quarter valued at $115,000. Barclays PLC lifted its holdings in Resources Connection by 194.4% during the 3rd 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 holdings in Resources Connection by 32.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 17,877 shares of the company’s stock valued at $173,000 after buying an additional 4,418 shares in the last quarter. Geode Capital Management LLC boosted its position in Resources Connection by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 784,529 shares of the company’s stock valued at $7,611,000 after buying an additional 23,943 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Resources Connection by 7.4% in 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. Institutional investors own 93.23% of the company’s stock.

Resources Connection Price Performance

NASDAQ:RGP remained flat at $8.44 during midday trading on Friday. The company had a trading volume of 91,263 shares, compared to its average volume of 283,519. The stock has a market cap of $282.50 million, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.41 and a beta of 0.67. The firm has a 50-day moving average price of $8.56 and a two-hundred day moving average price of $9.89. Resources Connection has a one year low of $7.90 and a one year high of $14.63.

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

Resources Connection Dividend Announcement

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

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.