Christopher Layden Buys 10,100 Shares of Kelly Services (NASDAQ:KELYA) Stock

Key Points

• CEO Christopher Layden purchased 10,100 shares at $8.80 on March 24 (totaling $88,880), increasing his direct stake to 382,513 shares — a 2.71% rise in ownership.
• Kelly Services reported a quarterly EPS miss of $0.16 versus $0.45 expected while reporting $1.05 billion in revenue, and the company posted a negative net margin of -5.98%.
• The company pays a quarterly dividend of $0.075 (annualized $0.30, yield ~3.5%); analysts are split with an average rating of "Hold" and a consensus price target of $15, while the stock trades in a 52‑week range of $7.98–$14.94 and has a market cap of about $295.6 million.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) CEO Christopher Layden purchased 10,100 shares of the firm's stock in a transaction on Tuesday, March 24th. The shares were acquired at an average price of $8.80 per share, for a total transaction of $88,880.00. Following the purchase, the chief executive officer directly owned 382,513 shares of the company's stock, valued at approximately $3,366,114.40. This represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kelly Services Trading Down 1.0%

Shares of Kelly Services stock opened at $8.64 on Wednesday. Kelly Services, Inc. has a 52-week low of $7.98 and a 52-week high of $14.94. The firm has a market capitalization of $295.57 million, a PE ratio of -1.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54. The company's fifty day moving average price is $9.68 and its two-hundred day moving average price is $10.31.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.29). The business had revenue of $1.05 billion for 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 expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, February 25th. Kelly Services's payout ratio is presently -4.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Kelly Services in a report on Thursday, January 22nd. 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. Wall Street Zen upgraded Kelly Services from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Zacks Research lowered Kelly Services from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.00.

Institutional Trading of Kelly Services

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Kelly Services by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider's stock worth $27,176,000 after acquiring an additional 151,655 shares in the last quarter. Boston Partners grew its position in Kelly Services by 0.4% during the 3rd quarter. Boston Partners now owns 2,051,499 shares of the business services provider's stock worth $26,908,000 after acquiring an additional 9,020 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kelly Services by 39.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider's stock valued at $16,798,000 after purchasing an additional 544,309 shares in the last quarter. Private Management Group Inc. increased its holdings in Kelly Services by 101.8% during the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider's stock valued at $11,164,000 after purchasing an additional 640,076 shares in the last quarter. Finally, Millennium Management LLC raised its position in Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider's stock valued at $15,649,000 after purchasing an additional 93,026 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company's stock.

Kelly Services Company 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.

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