Kelly Services (NASDAQ:KELYA) Stock Passes Above 200 Day Moving Average – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.75 and traded as high as $11.69. Kelly Services shares last traded at $11.63, with a volume of 344,102 shares changing hands.

Analyst Ratings Changes

KELYA has been the subject of several research reports. Weiss Ratings downgraded Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.00.

Kelly Services Stock Up 7.4%

The company has a market cap of $441.35 million, a price-to-earnings ratio of -1.67, a P/E/G ratio of 0.88 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a 50-day moving average price of $10.62 and a 200 day moving average price of $9.77.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts predict that Kelly Services, Inc. will post 1.01 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s payout ratio is presently -3.95%.

Insider Activity at Kelly Services

In related news, EVP Vanessa Peterson Williams sold 29,999 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.78, for a total transaction of $293,390.22. Following the transaction, the executive vice president directly owned 82,355 shares of the company’s stock, valued at approximately $805,431.90. This trade represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KELYA. Quarry LP raised its position in shares of Kelly Services by 173.2% in the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in Kelly Services during the 4th quarter worth $30,000. Meeder Asset Management Inc. bought a new position in Kelly Services during the 4th quarter worth $42,000. Tower Research Capital LLC TRC raised its holdings in Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 1,967 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Kelly Services by 284.2% during the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 5,341 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.

About Kelly Services

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.