Resources Connection, Inc. (NASDAQ:RECN) Closed 12.7% Above Its 50 Day Average


Shares are trading at $15.40 impressively higher than $13.67, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $13.42. The 50 day moving average was up $1.73 whereas the 200 day moving average was up $1.98 or +14.72%. 1,650 shares changed hands by the end of trading on Tuesday. Trading volume was down 98.24% under the stocks average daily volume.

Short traders are feeling a little more bullish on Resources Connection, Inc. of late as indicated by the change in short interest. The stock saw a fall in short interest of -49.45% between September 15, 2017 and September 29, 2017. Short interest fell from 214,022 to 108,179 over that period. With short interest at 108,179 and short average daily volume at 165,664, days to cover is 1.0 and the percentage of shorted shares was 0.00% on September 29.

Additionally, here are a few investment firms who have increased or decreased their stake in (RECN). Louisiana State Employees Retirement System reduced its investment by selling 700 shares a decrease of 5.8%. Louisiana State Employees Retirement System currently owns 11,400 shares worth $158,000. The value of the position overall is down by 4.8%. Gemmer Asset Management LLC grew its holdings by buying 17 shares an increase of 8.9% from 06/30/2017 to 09/30/2017. Gemmer Asset Management LLC now holds 207 shares valued at $3,000. The total value of its holdings decreased 0.0%.

Fisher Asset Management, LLC bolstered its stake by buying 21,253 shares an increase of 11.2% in the quarter. Fisher Asset Management, LLC claims 210,195 shares with a value of $2,922,000. The value of the position overall is up by 12.9%. As of the end of the quarter Meeder Asset Management Inc had acquired 296 shares growing its holdings by 24.3%. The value of the investment in Resources Connection, Inc. increased from $17,000 to $21,000 a change of $4,000 quarter to quarter.

The company is now up by 0.98% percent from yesterday’s close. Resources Connection, Inc. announced a dividend for shareholders that was paid on Thursday the 21st of September 2017. The dividend was $0.120 per share for the quarter or $0.48 on an annualized basis. The dividend yield was $3.20. The ex-dividend date was Tuesday the 22nd of August 2017.

Resources Connection, Inc.’s P/E ratio is 31.95 and the market value is 460.44M. In the last earnings report the EPS was $0.48 and is estimated to be $0.69 for the current year with 29,899,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.13 with next year’s EPS anticipated to be $0.83.

Resources Connection, Inc., launched on November 16, 1998, is a multinational consulting firm. The Business’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory. The Company provides its services and solutions to a client base in a range of industries..