Short Interest in Resources Connection, Inc. (NASDAQ:RGP) Grows By 16.9%

Resources Connection, Inc. (NASDAQ:RGP) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 2,009,653 shares, an increase of 16.9% from the February 12th total of 1,718,579 shares. Based on an average daily volume of 393,363 shares, the short-interest ratio is currently 5.1 days. Currently, 6.5% of the company’s shares are short sold. Currently, 6.5% of the company’s shares are short sold. Based on an average daily volume of 393,363 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Resources Connection Stock Performance

Shares of RGP opened at $3.70 on Thursday. The company’s 50-day simple moving average is $4.08 and its 200-day simple moving average is $4.60. Resources Connection has a 1 year low of $3.42 and a 1 year high of $6.95. The stock has a market capitalization of $123.95 million, a PE ratio of -0.92 and a beta of 0.49.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings data on Wednesday, January 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. The firm had revenue of $117.73 million during the quarter, compared to analysts’ expectations of $119.97 million. Resources Connection had a negative net margin of 26.13% and a positive return on equity of 0.62%.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, February 20th. This represents a $0.28 dividend on an annualized basis and a yield of 7.6%. Resources Connection’s dividend payout ratio (DPR) is -6.97%.

Institutional Investors Weigh In On Resources Connection

Large investors have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC boosted its stake in shares of Resources Connection by 4.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company’s stock valued at $264,000 after buying an additional 2,350 shares during the period. Mackenzie Financial Corp raised its holdings in Resources Connection by 20.6% in the third quarter. Mackenzie Financial Corp now owns 21,134 shares of the company’s stock valued at $107,000 after acquiring an additional 3,607 shares in the last quarter. Certior Financial Group LLC raised its holdings in Resources Connection by 30.2% in the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock valued at $87,000 after acquiring an additional 4,008 shares in the last quarter. Strs Ohio grew its holdings in Resources Connection by 57.5% during the 3rd quarter. Strs Ohio now owns 11,500 shares of the company’s stock worth $58,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Resources Connection by 19.7% in the 4th quarter. Corient Private Wealth LLC now owns 30,231 shares of the company’s stock valued at $152,000 after purchasing an additional 4,969 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

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.