JPMorgan Chase & Co. Sells 502,934 Shares of Kelly Services Inc. (KELYA)
JPMorgan Chase & Co. cut its stake in Kelly Services Inc. (NASDAQ:KELYA) by 47.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 560,863 shares of the company’s stock after selling 502,934 shares during the period. JPMorgan Chase & Co. owned approximately 1.48% of Kelly Services worth $10,639,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of KELYA. CIBC World Markets Inc. acquired a new position in Kelly Services during the second quarter valued at $1,040,000. Acadian Asset Management LLC increased its position in Kelly Services by 14.2% in the second quarter. Acadian Asset Management LLC now owns 130,850 shares of the company’s stock worth $2,483,000 after buying an additional 16,292 shares in the last quarter. Nordea Investment Management AB increased its position in Kelly Services by 31.9% in the second quarter. Nordea Investment Management AB now owns 66,600 shares of the company’s stock worth $1,263,000 after buying an additional 16,100 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Kelly Services by 109.3% in the second quarter. BNP Paribas Arbitrage SA now owns 9,272 shares of the company’s stock worth $176,000 after buying an additional 4,842 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Kelly Services by 3.4% in the first quarter. Arizona State Retirement System now owns 15,160 shares of the company’s stock worth $290,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.
Kelly Services Inc. (NASDAQ:KELYA) traded up 0.31% during mid-day trading on Tuesday, reaching $19.48. The company had a trading volume of 22,418 shares. The stock has a market capitalization of $742.05 million, a price-to-earnings ratio of 11.98 and a beta of 1.75. The stock has a 50 day moving average of $19.09 and a 200 day moving average of $19.23. Kelly Services Inc. has a 52 week low of $14.35 and a 52 week high of $20.98.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.02. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. Analysts anticipate that Kelly Services Inc. will post $1.57 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th.
In other news, Director B Joseph White sold 7,899 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $19.11, for a total value of $150,949.89. Following the completion of the sale, the director now directly owns 22,090 shares in the company, valued at $422,139.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Shelby Armstrong sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $19.36, for a total value of $348,480.00. Following the completion of the sale, the insider now owns 42,335 shares of the company’s stock, valued at $819,605.60. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).
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