Point72 Asia Singapore Pte. Ltd. Makes New Investment in Kelly Services, Inc. (NASDAQ:KELYA)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,381 shares of the business services provider's stock, valued at approximately $535,000. Point72 Asia Singapore Pte. Ltd. owned 0.11% of Kelly Services at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ARGA Investment Management LP increased its stake in Kelly Services by 28.6% during the 4th quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider's stock valued at $1,359,000 after buying an additional 21,672 shares during the period. Exchange Traded Concepts LLC boosted its stake in Kelly Services by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider's stock valued at $521,000 after purchasing an additional 945 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Kelly Services in the 4th quarter worth $5,343,000. Proficio Capital Partners LLC acquired a new position in Kelly Services during the fourth quarter worth about $201,000. Finally, Entropy Technologies LP bought a new stake in Kelly Services in the fourth quarter worth about $153,000. Institutional investors own 76.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KELYA. StockNews.com cut Kelly Services from a "buy" rating to a "hold" rating in a report on Tuesday. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of Kelly Services in a research note on Tuesday.

Kelly Services Trading Down 3.1%

NASDAQ KELYA traded down $0.38 on Wednesday, hitting $11.97. 46,333 shares of the stock were exchanged, compared to its average volume of 344,090. The company's 50-day moving average price is $12.20 and its two-hundred day moving average price is $13.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. Kelly Services, Inc. has a 52-week low of $10.80 and a 52-week high of $23.81. The company has a market capitalization of $417.61 million, a price-to-earnings ratio of -200.48, a P/E/G ratio of 0.43 and a beta of 0.96.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Research analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Monday, May 19th. Kelly Services's dividend payout ratio (DPR) is presently -50.00%.

Kelly Services Profile

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.