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

Kelly Services, Inc. (NASDAQ:KELYA) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 631,316 shares, a decline of 21.2% from the November 30th total of 800,682 shares. Based on an average daily trading volume, of 641,941 shares, the short-interest ratio is presently 1.0 days. Approximately 1.9% of the shares of the company are short sold. Approximately 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 641,941 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of Kelly Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Management Group Inc. bought a new position in Kelly Services in the 3rd quarter valued at $8,247,000. CSM Advisors LLC purchased a new stake in shares of Kelly Services in the second quarter worth $4,807,000. JPMorgan Chase & Co. raised its position in shares of Kelly Services by 1,328.6% in the third quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after buying an additional 383,357 shares in the last quarter. Bank of America Corp DE boosted its stake in Kelly Services by 186.9% during the third quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock valued at $6,333,000 after buying an additional 314,447 shares during the period. Finally, Kennedy Capital Management LLC grew its position in Kelly Services by 77.6% during the third quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock worth $9,015,000 after buying an additional 300,178 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Up 0.8%

NASDAQ:KELYA opened at $8.68 on Tuesday. Kelly Services has a 1 year low of $7.98 and a 1 year high of $15.11. The stock’s fifty day moving average price is $9.47 and its two-hundred day moving average price is $11.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $306.75 million, a P/E ratio of -1.94, a P/E/G ratio of 0.42 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.24). Kelly Services had a negative net margin of 3.58% and a positive return on equity of 5.74%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $972.80 million. As a group, analysts expect that Kelly Services will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, November 19th. Kelly Services’s dividend payout ratio (DPR) is -6.70%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group restated an “outperform” rating on shares of Kelly Services in a report on Friday, September 12th. Wall Street Zen lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research note on Wednesday, October 8th. Zacks Research downgraded Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Barrington Research dropped their price target on Kelly Services from $25.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Kelly Services Company Profile

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.