Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 542,300 shares, a drop of 68.3% from the December 15th total of 1,710,000 shares. Based on an average daily volume of 575,100 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.8% of the shares of the company are short sold.
Insider Activity at Kelly Services
In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the acquisition, the senior vice president now owns 95,906 shares of the company's stock, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Kelly Services
Several large investors have recently added to or reduced their stakes in KELYA. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services in the 2nd quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new position in Kelly Services during the second quarter worth $51,000. Versant Capital Management Inc lifted its holdings in shares of Kelly Services by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider's stock valued at $33,000 after acquiring an additional 1,883 shares during the period. Quest Partners LLC acquired a new stake in shares of Kelly Services in the 3rd quarter valued at $158,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services in the 3rd quarter worth about $196,000. Institutional investors and hedge funds own 76.34% of the company's stock.
Kelly Services Stock Performance
KELYA stock traded up $0.59 during midday trading on Monday, hitting $13.84. 449,481 shares of the company traded hands, compared to its average volume of 430,769. Kelly Services has a twelve month low of $12.68 and a twelve month high of $25.27. The stock has a market capitalization of $492.84 million, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.55 and a beta of 1.12. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $14.65 and a 200-day simple moving average of $18.73.
Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company's revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Kelly Services will post 1.93 earnings per share for the current year.
Kelly Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 20th. Kelly Services's dividend payout ratio is currently 26.09%.
Wall Street Analysts Forecast Growth
Separately, Barrington Research reduced their price objective on Kelly Services from $29.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, November 18th.
Check Out Our Latest Research Report on Kelly Services
About Kelly Services
(
Get Free Report)
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.
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