Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Update

Kelly Services, Inc. (NASDAQ:KELYA) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 991,400 shares, an increase of 32.4% from the January 29th total of 748,719 shares. Based on an average trading volume of 830,484 shares, the short-interest ratio is presently 1.2 days. Currently, 3.0% of the company’s shares are short sold. Currently, 3.0% of the company’s shares are short sold. Based on an average trading volume of 830,484 shares, the short-interest ratio is presently 1.2 days.

Kelly Services Trading Down 3.5%

Shares of NASDAQ:KELYA traded down $0.34 on Monday, hitting $9.37. 405,263 shares of the company’s stock were exchanged, compared to its average volume of 551,464. The stock has a market capitalization of $320.55 million, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. Kelly Services has a 12 month low of $7.98 and a 12 month high of $14.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54. The business’s 50 day simple moving average is $9.69 and its two-hundred day simple moving average is $10.94.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Analysts anticipate that Kelly Services will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Kelly Services’s payout ratio is currently -4.13%.

Analyst Ratings Changes

Several research firms have recently weighed in on KELYA. Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Zacks Research cut shares of Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Barrington Research reduced their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Insider Buying and Selling

In related news, Director James Christopher Hunt acquired 10,000 shares of Kelly Services stock in a transaction on Monday, February 23rd. The shares were bought at an average cost of $9.43 per share, with a total value of $94,300.00. Following the completion of the purchase, the director directly owned 25,976 shares of the company’s stock, valued at $244,953.68. The trade was a 62.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 25,000 shares of company stock valued at $236,780 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CSM Advisors LLC purchased a new stake in Kelly Services in the second quarter worth about $4,807,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kelly Services in the 2nd quarter valued at about $727,000. Creative Planning raised its holdings in shares of Kelly Services by 56.7% in the 2nd quarter. Creative Planning now owns 90,287 shares of the business services provider’s stock valued at $1,057,000 after purchasing an additional 32,669 shares in the last quarter. LSV Asset Management lifted its position in shares of Kelly Services by 11.6% in the 2nd quarter. LSV Asset Management now owns 561,329 shares of the business services provider’s stock worth $6,573,000 after purchasing an additional 58,200 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kelly Services during the second quarter valued at approximately $1,349,000. Institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.