Short Interest in Resources Connection, Inc. (NASDAQ:RGP) Declines By 18.4%

Resources Connection, Inc. (NASDAQ:RGP) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 840,100 shares, a drop of 18.4% from the December 15th total of 1,030,000 shares. Based on an average daily volume of 353,300 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.6% of the shares of the stock are short sold.

Resources Connection Trading Up 0.7 %

RGP stock opened at $8.56 on Friday. The company’s 50-day moving average price is $8.50 and its 200 day moving average price is $9.32. Resources Connection has a 52 week low of $7.90 and a 52 week high of $14.29. The company has a market cap of $283.25 million, a P/E ratio of -4.60 and a beta of 0.66.

Institutional Investors Weigh In On Resources Connection

Institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC increased its stake in Resources Connection by 4.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock valued at $8,154,000 after purchasing an additional 34,570 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Resources Connection by 18.8% in the second quarter. AQR Capital Management LLC now owns 836,558 shares of the company’s stock valued at $9,236,000 after buying an additional 132,586 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Resources Connection by 16.4% during the 3rd quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock worth $7,906,000 after buying an additional 115,000 shares during the last quarter. Circumference Group LLC boosted its position in shares of Resources Connection by 16.4% in the 3rd quarter. Circumference Group LLC now owns 815,000 shares of the company’s stock worth $7,906,000 after buying an additional 115,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Resources Connection by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 784,529 shares of the company’s stock valued at $7,611,000 after acquiring an additional 23,943 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

About Resources Connection

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.