Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Update
by Amy Steele · The Cerbat GemKelly Services, Inc. (NASDAQ:KELYA – Get Free Report) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 991,400 shares, a growth of 32.4% from the January 29th total of 748,719 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 830,484 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 830,484 shares, the days-to-cover ratio is presently 1.2 days. Approximately 3.0% of the company’s stock are sold short.
Insider Activity
In related news, Director James Christopher Hunt bought 10,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was acquired at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the acquisition, the director owned 25,976 shares in the company, valued at approximately $244,953.68. This represents a 62.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 25,000 shares of company stock valued at $236,780. Corporate insiders own 3.90% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in KELYA. Quarry LP boosted its stake in shares of Kelly Services by 173.2% during the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,249 shares in the last quarter. Versant Capital Management Inc boosted its position in Kelly Services by 52.0% during the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,028 shares in the last quarter. GAMMA Investing LLC boosted its position in Kelly Services by 175.4% during the third quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock worth $44,000 after purchasing an additional 2,156 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Kelly Services in the fourth quarter valued at $30,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Kelly Services by 83.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock valued at $51,000 after buying an additional 1,967 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Kelly Services Stock Performance
NASDAQ KELYA traded down $0.06 on Tuesday, hitting $9.31. 300,202 shares of the company’s stock were exchanged, compared to its average volume of 545,333. The firm has a market cap of $318.50 million, a price-to-earnings ratio of -1.28, a P/E/G ratio of 0.71 and a beta of 0.79. The firm’s 50-day moving average price is $9.71 and its two-hundred day moving average price is $10.91. Kelly Services has a fifty-two week low of $7.98 and a fifty-two week 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.
Kelly Services (NASDAQ:KELYA – Get Free Report) last posted 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). The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Kelly Services had a negative net margin of 5.98% and a positive return on equity of 4.05%. On average, research analysts expect that Kelly Services will post 2.45 EPS for the current year.
Kelly Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a $0.075 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $0.30 annualized dividend and a dividend yield of 3.2%. Kelly Services’s dividend payout ratio (DPR) is -4.13%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on KELYA shares. Barrington Research decreased their price target on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Zacks Research lowered Kelly Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.00.
Check Out Our Latest Report on Kelly Services
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.