Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 476,300 shares, a decline of 28.9% from the May 15th total of 670,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 275,700 shares, the days-to-cover ratio is currently 1.7 days.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. cut their price objective on shares of Resources Connection from $9.50 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, April 3rd.
Read Our Latest Stock Analysis on Resources Connection
Insiders Place Their Bets
In other Resources Connection news, Director David P. White sold 5,204 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $5.26, for a total value of $27,373.04. Following the sale, the director now directly owns 24,331 shares of the company's stock, valued at $127,981.06. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger D. Carlile bought 25,000 shares of the business's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $5.06 per share, for a total transaction of $126,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company's stock, valued at $253,000. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 54,900 shares of company stock valued at $279,295 over the last 90 days. 3.39% of the stock is owned by company insiders.
Hedge Funds Weigh In On Resources Connection
Several hedge funds have recently modified their holdings of the company. Royce & Associates LP grew its holdings in Resources Connection by 9.1% during the first quarter. Royce & Associates LP now owns 2,063,619 shares of the company's stock worth $13,496,000 after acquiring an additional 172,158 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Resources Connection by 3.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,187,901 shares of the company's stock valued at $7,769,000 after purchasing an additional 41,800 shares in the last quarter. Horrell Capital Management Inc. grew its stake in shares of Resources Connection by 30.1% in the 4th quarter. Horrell Capital Management Inc. now owns 1,060,000 shares of the company's stock worth $9,042,000 after purchasing an additional 245,000 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Resources Connection by 38.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 963,619 shares of the company's stock worth $8,220,000 after purchasing an additional 268,954 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Resources Connection by 13.6% in the 1st quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company's stock worth $6,189,000 after purchasing an additional 113,614 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.
Resources Connection Stock Down 2.6%
Resources Connection stock traded down $0.15 during mid-day trading on Friday, hitting $5.35. 126,958 shares of the company's stock traded hands, compared to its average volume of 380,061. Resources Connection has a one year low of $4.81 and a one year high of $12.19. The firm has a 50 day moving average price of $5.40 and a 200 day moving average price of $6.90. The company has a market cap of $176.76 million, a PE ratio of -1.64, a price-to-earnings-growth ratio of 0.44 and a beta of 0.64.
Resources Connection Dividend Announcement
The company also recently announced a dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 23rd will be issued a dividend of $0.07 per share. The ex-dividend date is Monday, June 23rd. Resources Connection's payout ratio is -17.07%.
About Resources Connection
(
Get Free Report)
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.
Featured Stories
Before you consider Resources Connection, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Resources Connection wasn't on the list.
While Resources Connection currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
