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

Resources Connection, Inc. (NASDAQ:RGP) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 1,305,464 shares, a decline of 36.9% from the June 15th total of 2,068,451 shares. Based on an average daily volume of 1,029,136 shares, the days-to-cover ratio is currently 1.3 days. Currently, 4.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. bought a new stake in Resources Connection in the fourth quarter worth $31,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Resources Connection in the 4th quarter worth about $33,000. Strs Ohio purchased a new position in shares of Resources Connection in the 1st quarter worth about $48,000. Quarry LP boosted its stake in Resources Connection by 4,995.7% in the 3rd quarter. Quarry LP now owns 9,529 shares of the company’s stock worth $48,000 after purchasing an additional 9,342 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in Resources Connection during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

Shares of NASDAQ RGP opened at $4.64 on Friday. The company has a 50 day simple moving average of $4.45 and a two-hundred day simple moving average of $4.22. Resources Connection has a fifty-two week low of $3.06 and a fifty-two week high of $5.95. The company has a market capitalization of $159.29 million, a price-to-earnings ratio of -1.57 and a beta of 0.55.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Thursday, May 21st were paid a $0.07 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 6.0%. Resources Connection’s dividend payout ratio is presently -9.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Zacks Research upgraded Resources Connection from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.