JB Capital Partners LP Invests $1.54 Million in Kelly Services, Inc. $KELYA

JB Capital Partners LP bought a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 117,486 shares of the business services provider’s stock, valued at approximately $1,541,000. JB Capital Partners LP owned about 0.33% of Kelly Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KELYA. Private Management Group Inc. bought a new stake in shares of Kelly Services in the third quarter valued at about $8,247,000. JPMorgan Chase & Co. raised its holdings in Kelly Services by 1,328.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock valued at $5,408,000 after acquiring an additional 383,357 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Kelly Services by 186.9% during the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock worth $6,333,000 after purchasing an additional 314,447 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Kelly Services by 77.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock worth $9,015,000 after purchasing an additional 300,178 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Kelly Services by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after purchasing an additional 151,655 shares during the period. Institutional investors own 76.34% of the company’s stock.

Analyst Ratings Changes

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

Kelly Services Trading Down 1.6%

Shares of KELYA opened at $8.53 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. The stock has a market cap of $291.81 million, a PE ratio of -1.17, a PEG ratio of 0.62 and a beta of 0.79. Kelly Services, Inc. has a 1 year low of $7.98 and a 1 year high of $14.94. The stock has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $10.58.

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

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.30 annualized dividend and a dividend yield of 3.5%. Kelly Services’s dividend payout ratio is presently -4.13%.

Insider Activity

In other news, Director James Christopher Hunt purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $9.30 per share, with a total value of $37,200.00. Following the acquisition, the director directly owned 29,976 shares of the company’s stock, valued at approximately $278,776.80. This trade represents a 15.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 25,100 shares of company stock worth $238,257. Company insiders own 3.90% of the company’s stock.

Kelly Services Company Profile

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.