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

Resources Connection, Inc. (NASDAQ:RGP) saw a large increase in short interest in 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. Approximately 6.5% of the company’s stock are short sold. Approximately 6.5% of the company’s stock are short sold. Based on an average daily volume of 393,363 shares, the short-interest ratio is currently 5.1 days.

Resources Connection Stock Up 0.3%

NASDAQ:RGP opened at $3.62 on Tuesday. The company has a market cap of $121.27 million, a PE ratio of -0.90 and a beta of 0.49. The business’s 50 day moving average is $4.14 and its two-hundred day moving average is $4.62. Resources Connection has a 52 week low of $3.42 and a 52 week high of $6.98.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Wednesday, January 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.08. Resources Connection had a negative net margin of 26.13% and a positive return on equity of 0.62%. The business had revenue of $117.73 million during the quarter, compared to analyst estimates of $119.97 million.

Resources Connection Dividend Announcement

The business also recently declared 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 of this dividend is Friday, February 20th. This represents a $0.28 annualized dividend and a dividend yield of 7.7%. Resources Connection’s dividend payout ratio (DPR) is -6.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Resources Connection has an average rating of “Hold” and an average price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RGP. Pacific Ridge Capital Partners LLC increased its position in Resources Connection by 4.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company’s stock worth $264,000 after buying an additional 2,350 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Resources Connection by 20.6% during 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 during the period. Certior Financial Group LLC grew its position in shares of Resources Connection by 30.2% during the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock worth $87,000 after acquiring an additional 4,008 shares during the last quarter. Strs Ohio grew its position in shares of Resources Connection by 57.5% during the third quarter. Strs Ohio now owns 11,500 shares of the company’s stock worth $58,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings 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 worth $152,000 after acquiring an additional 4,969 shares during the period. 93.23% of the stock is currently owned by institutional investors.

About Resources Connection

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.