GAMMA Investing LLC boosted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 923.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 95,469 shares of the business services provider's stock after purchasing an additional 86,139 shares during the period. GAMMA Investing LLC owned approximately 0.27% of Kelly Services worth $1,257,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of 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 in the last quarter. Palouse Capital Management Inc. grew its position in 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 period. AXQ Capital LP purchased a new position in Kelly Services in the fourth quarter valued at $154,000. Cetera Investment Advisers acquired a new position in shares of Kelly Services in the fourth quarter worth about $158,000. Finally, Federated Hermes Inc. raised its position in shares of Kelly Services by 9.6% in the fourth quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider's stock worth $171,000 after acquiring an additional 1,076 shares during the period. Hedge funds and other institutional investors own 76.34% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on KELYA. Barrington Research reaffirmed an "outperform" rating and set a $25.00 target price on shares of Kelly Services in a research note on Tuesday, May 20th. Wall Street Zen cut shares of Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th.
View Our Latest Stock Report on Kelly Services
Kelly Services Price Performance
KELYA stock traded down $0.07 during trading on Thursday, hitting $11.55. The stock had a trading volume of 249,337 shares, compared to its average volume of 348,818. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. The company's 50-day moving average price is $11.75 and its two-hundred day moving average price is $12.93. The stock has a market capitalization of $402.98 million, a P/E ratio of -19.25, a PEG ratio of 0.42 and a beta of 0.96. Kelly Services, Inc. has a twelve month low of $10.80 and a twelve month high of $23.81.
Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.14). Kelly Services had a positive return on equity of 6.13% and a negative net margin of 0.46%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.
Kelly Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, May 19th. Kelly Services's payout ratio is currently -50.00%.
Kelly Services Company Profile
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Free Report)
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.
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