Kelly Services, Inc. (NASDAQ:KELYA) Sees Large Growth in Short Interest

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 764,600 shares, a growth of 15.7% from the September 15th total of 661,000 shares. Based on an average trading volume of 209,500 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.5% of the company's shares are sold short.

Institutional Investors Weigh In On Kelly Services

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Kelly Services by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider's stock worth $57,972,000 after acquiring an additional 21,230 shares during the last quarter. Boston Partners acquired a new stake in Kelly Services in the 1st quarter worth approximately $18,618,000. American Century Companies Inc. grew its position in Kelly Services by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider's stock worth $14,620,000 after purchasing an additional 180,238 shares during the last quarter. LSV Asset Management increased its stake in Kelly Services by 5.2% during the 2nd quarter. LSV Asset Management now owns 615,729 shares of the business services provider's stock valued at $13,183,000 after purchasing an additional 30,300 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Kelly Services by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider's stock valued at $7,955,000 after purchasing an additional 20,520 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KELYA shares. StockNews.com lowered shares of Kelly Services from a "buy" rating to a "hold" rating in a report on Friday, August 9th. Barrington Research reiterated an "outperform" rating and issued a $29.00 price target on shares of Kelly Services in a report on Friday, September 27th.

Kelly Services Stock Up 1.5 %

Shares of Kelly Services stock traded up $0.30 during trading on Wednesday, hitting $20.62. 197,173 shares of the stock traded hands, compared to its average volume of 228,349. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $20.65 and its 200 day simple moving average is $21.85. The firm has a market cap of $732.46 million, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19. Kelly Services has a 52-week low of $17.40 and a 52-week high of $25.27.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The company's revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts predict that Kelly Services will post 2.49 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, August 21st. Kelly Services's payout ratio is currently 21.58%.

About Kelly Services

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.