Prescott Group Capital Management L.L.C. Makes New $488,000 Investment in Kelly Services, Inc. $KELYA

Prescott Group Capital Management L.L.C. bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 55,456 shares of the business services provider’s stock, valued at approximately $488,000. Prescott Group Capital Management L.L.C. owned 0.16% of Kelly Services as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Kelly Services by 1,328.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after acquiring an additional 383,357 shares during the period. JB Capital Partners LP purchased a new position in shares of Kelly Services during the 3rd quarter worth approximately $1,541,000. Verus Capital Partners LLC purchased a new position in shares of Kelly Services during the 3rd quarter worth approximately $754,000. Semanteon Capital Management LP purchased a new position in shares of Kelly Services during the 3rd quarter worth approximately $276,000. Finally, SG Americas Securities LLC purchased a new position in shares of Kelly Services during the 3rd quarter worth approximately $158,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Stock Performance

Kelly Services stock opened at $10.29 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $356.75 million, a P/E ratio of -1.35, a PEG ratio of 0.74 and a beta of 0.79. The stock’s 50 day moving average is $9.19 and its 200 day moving average is $9.32. Kelly Services, Inc. has a twelve month low of $7.98 and a twelve month high of $14.94.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%. On average, equities research analysts predict that Kelly Services, Inc. will post 1.01 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Kelly Services’s dividend payout ratio (DPR) is currently -3.95%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, CEO Christopher D. Layden bought 10,100 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were acquired at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the purchase, the chief executive officer owned 382,513 shares in the company, valued at approximately $3,366,114.40. This trade represents a 2.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Christopher Hunt bought 4,000 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $9.30 per share, for a total transaction of $37,200.00. Following the completion of the purchase, the director owned 29,976 shares in the company, valued at approximately $278,776.80. The trade was a 15.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 34,200 shares of company stock worth $317,557. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on KELYA shares. Zacks Research upgraded Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Barrington Research reduced their target price on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Weiss Ratings downgraded Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.00.

Kelly Services 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.