Short Interest in Kelly Services, Inc. (NASDAQ:KELYA) Rises By 10.7%

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 635,200 shares, a growth of 10.7% from the January 15th total of 573,700 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 617,000 shares, the days-to-cover ratio is currently 1.0 days.

Kelly Services Trading Up 1.3 %

KELYA stock traded up $0.18 during trading on Friday, hitting $13.87. 410,758 shares of the company traded hands, compared to its average volume of 334,082. The company has a 50-day moving average of $13.76 and a 200-day moving average of $17.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 1.65. Kelly Services has a 1 year low of $12.68 and a 1 year high of $25.27. The firm has a market capitalization of $493.91 million, a PE ratio of -231.13, a P/E/G ratio of 0.43 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.38. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Analysts predict that Kelly Services will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.16%. Kelly Services's dividend payout ratio is currently -499.92%.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Kelly Services in a research note on Tuesday.

Institutional Trading of Kelly Services

Several large investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Kelly Services by 2,251.9% in the 4th quarter. Millennium Management LLC now owns 1,095,238 shares of the business services provider's stock worth $15,268,000 after purchasing an additional 1,048,670 shares in the last quarter. Boston Partners raised its stake in Kelly Services by 49.0% in the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider's stock worth $26,450,000 after buying an additional 621,078 shares in the last quarter. Jane Street Group LLC lifted its holdings in Kelly Services by 2,489.0% in the fourth quarter. Jane Street Group LLC now owns 603,057 shares of the business services provider's stock worth $8,407,000 after buying an additional 579,764 shares during the period. Renaissance Technologies LLC bought a new stake in Kelly Services during the 4th quarter valued at approximately $5,343,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Kelly Services by 45.7% in the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider's stock valued at $25,944,000 after purchasing an additional 380,035 shares during the period. 76.34% of the stock is owned by institutional investors.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.