JB Capital Partners LP Purchases 89,674 Shares of Kelly Services, Inc. $KELYA

JB Capital Partners LP lifted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 76.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 207,160 shares of the business services provider’s stock after purchasing an additional 89,674 shares during the quarter. JB Capital Partners LP’s holdings in Kelly Services were worth $1,823,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quarry LP grew its holdings in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,249 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Kelly Services in the 4th quarter worth about $42,000. PNC Financial Services Group Inc. grew its holdings in shares of Kelly Services by 46.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock worth $65,000 after purchasing an additional 1,577 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Kelly Services by 284.2% in the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock worth $63,000 after purchasing an additional 5,341 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $12.04 on Friday. Kelly Services, Inc. has a 12 month low of $7.98 and a 12 month high of $14.94. The company’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $9.58. 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 firm has a market cap of $417.43 million, a P/E ratio of -1.58, a P/E/G ratio of 0.91 and a beta of 0.85.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts forecast that Kelly Services, Inc. will post 1.01 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a yield of 2.5%. Kelly Services’s dividend payout ratio is currently -3.95%.

Insider Transactions at Kelly Services

In related news, CEO Christopher D. Layden acquired 10,100 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average price of $8.80 per share, with a total value of $88,880.00. Following the acquisition, the chief executive officer directly owned 382,513 shares in the company, valued at $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.78, for a total transaction of $293,390.22. Following the sale, the executive vice president directly owned 82,355 shares in the company, valued at approximately $805,431.90. This represents a 26.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KELYA shares. Weiss Ratings lowered shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Barrington Research lowered their target price on shares of 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 raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.00.

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.