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

Resources Connection, Inc. (NASDAQ:RGP) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,010,000 shares, an increase of 31.4% from the March 31st total of 1,530,000 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily volume of 450,500 shares, the short-interest ratio is presently 4.5 days.

Resources Connection Stock Performance

Shares of Resources Connection stock remained flat at $11.05 during midday trading on Tuesday. 351,635 shares of the stock traded hands, compared to its average volume of 422,247. Resources Connection has a twelve month low of $10.59 and a twelve month high of $17.24. The company’s fifty day moving average price is $12.57 and its 200 day moving average price is $13.31. The company has a market cap of $373.60 million, a PE ratio of 16.74, a PEG ratio of 2.31 and a beta of 0.61.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings results on Wednesday, April 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. The firm had revenue of $151.31 million during the quarter, compared to the consensus estimate of $152.77 million. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue was down 19.0% on a year-over-year basis. Equities analysts predict that Resources Connection will post 0.32 earnings per share for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Wednesday, May 15th. Resources Connection’s dividend payout ratio (DPR) is presently 84.85%.

Analyst Upgrades and Downgrades

RGP has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th.

Hedge Funds Weigh In On Resources Connection

Several large investors have recently added to or reduced their stakes in RGP. Swiss National Bank raised its stake in shares of Resources Connection by 1.6% in the 3rd quarter. Swiss National Bank now owns 70,300 shares of the company’s stock valued at $1,048,000 after buying an additional 1,100 shares in the last quarter. TD Asset Management Inc lifted its stake in Resources Connection by 1.4% during the fourth quarter. TD Asset Management Inc now owns 89,400 shares of the company’s stock worth $1,267,000 after purchasing an additional 1,200 shares during the period. Amalgamated Bank lifted its stake in Resources Connection by 9.8% during the third quarter. Amalgamated Bank now owns 13,449 shares of the company’s stock worth $201,000 after purchasing an additional 1,203 shares during the period. Quarry LP acquired a new stake in Resources Connection during the fourth quarter valued at approximately $39,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Resources Connection by 4.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 71,054 shares of the company’s stock valued at $1,059,000 after purchasing an additional 3,046 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Company Profile

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.