JPMorgan Chase & Co. Has $5.41 Million Position in Kelly Services, Inc. $KELYA

Key Points

• JPMorgan Chase boosted its stake in Kelly Services by 1,328.6% in Q3 to 412,211 shares, a 1.17% ownership position worth about $5.41 million.
• Kelly Services missed quarterly EPS ($0.16 vs. $0.45 expected) despite $1.05 billion in revenue, and shows a negative net margin (-5.98%) and a negative PE ratio (-1.19).
• Insider buying has accelerated—CEO purchased 10,100 shares and a director bought 4,000 shares recently—leaving insiders with 48.09% ownership while institutions hold 76.34%.

JPMorgan Chase & Co. boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 1,328.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 412,211 shares of the business services provider's stock after acquiring an additional 383,357 shares during the period. JPMorgan Chase & Co. owned 1.17% of Kelly Services worth $5,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Kelly Services by 173.2% in the third quarter. Quarry LP now owns 1,970 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,249 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Kelly Services by 52.0% in the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider's stock valued at $39,000 after purchasing an additional 1,028 shares during the period. GAMMA Investing LLC lifted its stake in shares of Kelly Services by 175.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider's stock worth $44,000 after buying an additional 2,156 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Kelly Services by 83.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider's stock worth $51,000 after buying an additional 1,967 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Kelly Services by 46.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider's stock worth $65,000 after buying an additional 1,577 shares during the period. Institutional investors and hedge funds own 76.34% of the company's stock.

Kelly Services Trading Down 2.0%

KELYA stock opened at $8.67 on Thursday. Kelly Services, Inc. has a 52 week low of $7.98 and a 52 week high of $14.94. The company has a market capitalization of $296.60 million, a PE ratio of -1.19, a price-to-earnings-growth ratio of 0.65 and a beta of 0.80. The company's 50-day simple moving average is $9.53 and its 200 day simple moving average is $10.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.54 and a current ratio of 1.54.

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

Kelly Services Dividend Announcement

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

Insider Buying and Selling

In related news, Director James Christopher Hunt purchased 4,000 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $9.30 per share, for a total transaction of $37,200.00. Following the completion of the purchase, the director owned 29,976 shares in the company, valued at approximately $278,776.80. This represents a 15.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher D. Layden purchased 10,100 shares of Kelly Services stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the transaction, the chief executive officer directly owned 382,513 shares of the company's stock, valued at $3,366,114.40. This represents a 2.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 35,200 shares of company stock valued at $327,137. 48.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Kelly Services in a report on Thursday, January 22nd. Barrington Research reduced their price objective on Kelly Services from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Wall Street Zen raised 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 research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.00.

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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