Balyasny Asset Management L.P. Takes Position in Kelly Services, Inc. (NASDAQ:KELYA)

Balyasny Asset Management L.P. bought a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,043 shares of the business services provider's stock, valued at approximately $725,000. Balyasny Asset Management L.P. owned 0.15% of Kelly Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KELYA. KBC Group NV raised its position in Kelly Services by 109.1% during the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock valued at $54,000 after purchasing an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Kelly Services by 49.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock valued at $60,000 after purchasing an additional 1,406 shares during the last quarter. Palouse Capital Management Inc. raised its position in Kelly Services by 13.1% during the 4th quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock valued at $114,000 after purchasing an additional 950 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Kelly Services in the 4th quarter worth approximately $153,000. Finally, AXQ Capital LP bought a new position in shares of Kelly Services in the 4th quarter worth approximately $154,000. Institutional investors own 76.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research report on Tuesday, February 18th. StockNews.com raised Kelly Services from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

Kelly Services Stock Up 1.9%

KELYA traded up $0.23 during trading on Friday, hitting $12.53. 329,809 shares of the company's stock traded hands, compared to its average volume of 345,847. The company's 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $13.62. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a 12-month low of $10.80 and a 12-month high of $23.81. The stock has a market capitalization of $437.15 million, a price-to-earnings ratio of -208.80, a PEG ratio of 0.43 and a beta of 0.96.

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

Kelly Services Dividend Announcement

The company 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. The ex-dividend date is Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.39%. Kelly Services's dividend payout ratio (DPR) is currently -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.