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

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

Resources Connection Stock Performance

NASDAQ:RGP opened at $3.62 on Tuesday. Resources Connection has a 1 year low of $3.42 and a 1 year high of $6.98. The stock has a market cap of $121.27 million, a price-to-earnings ratio of -0.90 and a beta of 0.49. The business has a fifty day moving average of $4.14 and a 200-day moving average of $4.62.

Resources Connection (NASDAQ:RGP) last issued 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 business had revenue of $117.73 million for 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 declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, February 20th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, February 20th. Resources Connection’s payout ratio is -6.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RGP. Pacific Ridge Capital Partners LLC increased its stake in shares of Resources Connection by 4.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company’s stock valued at $264,000 after acquiring an additional 2,350 shares during the period. Mackenzie Financial Corp raised its holdings in Resources Connection by 20.6% during the third quarter. Mackenzie Financial Corp now owns 21,134 shares of the company’s stock worth $107,000 after purchasing an additional 3,607 shares in the last quarter. Certior Financial Group LLC lifted its position in Resources Connection by 30.2% in the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock worth $87,000 after purchasing an additional 4,008 shares during the period. Strs Ohio lifted its position in Resources Connection by 57.5% in the third quarter. Strs Ohio now owns 11,500 shares of the company’s stock worth $58,000 after purchasing an additional 4,200 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Resources Connection by 19.7% during 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 in the last quarter. 93.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.00.

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.