Verus Capital Partners LLC Makes New $754,000 Investment in Kelly Services, Inc. $KELYA

Verus Capital Partners LLC bought a new stake in Kelly Services, Inc. (NASDAQ:KELYA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 57,500 shares of the business services provider’s stock, valued at approximately $754,000. Verus Capital Partners LLC owned approximately 0.16% of Kelly Services as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KELYA. AQR Capital Management LLC lifted its position in Kelly Services by 24.3% in the first quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock valued at $4,916,000 after purchasing an additional 73,040 shares during the period. Millennium Management LLC raised its stake in shares of Kelly Services by 8.5% during the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after buying an additional 93,026 shares in the last quarter. Empowered Funds LLC raised its position in Kelly Services by 4.2% in the first quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after acquiring an additional 8,562 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Kelly Services by 181.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 70,928 shares of the business services provider’s stock valued at $831,000 after acquiring an additional 45,722 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Kelly Services during the 2nd quarter worth $150,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KELYA. Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a report on Thursday, January 22nd. Zacks Research downgraded shares of Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Finally, Barrington Research decreased their price target on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.00.

Kelly Services Stock Performance

KELYA opened at $9.35 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $9.65 and its 200-day moving average is $11.07. The stock has a market cap of $319.86 million, a PE ratio of -1.29, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. Kelly Services, Inc. has a twelve month low of $7.98 and a twelve month high of $14.94.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.29). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%. On average, analysts predict that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 25th. Kelly Services’s payout ratio is currently -4.13%.

Kelly Services 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.