Balyasny Asset Management L.P. Buys New Shares 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 fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,043 shares of the business services provider's stock, valued at approximately $725,000. Balyasny Asset Management L.P. owned approximately 0.15% of Kelly Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV grew its holdings in shares of Kelly Services by 109.1% during the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock valued at $54,000 after buying an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock valued at $60,000 after buying an additional 1,406 shares during the last quarter. Palouse Capital Management Inc. grew its holdings in shares of Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock valued at $114,000 after buying an additional 950 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Kelly Services during the fourth quarter valued at approximately $153,000. Finally, AXQ Capital LP purchased a new stake in Kelly Services in the fourth quarter worth approximately $154,000. Institutional investors own 76.34% of the company's stock.

Kelly Services Stock Performance

KELYA stock traded up $0.07 on Tuesday, hitting $12.61. The company had a trading volume of 15,661 shares, compared to its average volume of 344,077. The stock's 50-day simple moving average is $12.21 and its 200 day simple moving average is $13.52. The stock has a market cap of $439.76 million, a price-to-earnings ratio of -210.06, a P/E/G ratio of 0.43 and a beta of 0.96. Kelly Services, Inc. has a 12-month low of $10.80 and a 12-month high of $23.81. 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 (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. As a group, equities research analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm 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 dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, May 19th. Kelly Services's dividend payout ratio is presently -50.00%.

Analyst Ratings Changes

KELYA has been the topic of several research reports. StockNews.com cut shares of Kelly Services from a "buy" rating to a "hold" rating in a report on Tuesday. Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday, February 18th.

About Kelly Services

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.