Essex Investment Management Co. LLC Purchases 100,453 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Key Points

• Essex Investment Management Co. LLC increased its stake in Kelly Services by 143.9%, owning 170,261 shares valued at approximately $2.24 million after purchasing an additional 100,453 shares in the first quarter.
• Kelly Services reported earnings of $0.39 EPS for the last quarter, missing estimates by $0.14, despite achieving revenue of $1.16 billion.
• The company declared a quarterly dividend of $0.075 per share, representing an annualized dividend of $0.30 and a yield of 2.23%.

Essex Investment Management Co. LLC increased its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA - Free Report) by 143.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,261 shares of the business services provider's stock after buying an additional 100,453 shares during the quarter. Essex Investment Management Co. LLC owned 0.49% of Kelly Services worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of Kelly Services by 5,012.7% during the 1st quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider's stock valued at $37,000 after buying an additional 2,757 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Kelly Services during the 4th quarter valued at about $5,343,000. Cetera Investment Advisers acquired a new stake in shares of Kelly Services during the 4th quarter valued at about $158,000. GAMMA Investing LLC boosted its stake in shares of Kelly Services by 923.2% during the 1st quarter. GAMMA Investing LLC now owns 95,469 shares of the business services provider's stock worth $1,257,000 after acquiring an additional 86,139 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Kelly Services by 123.7% during the 4th quarter. Bank of America Corp DE now owns 146,462 shares of the business services provider's stock valued at $2,042,000 after acquiring an additional 80,995 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company's stock.

Wall Street Analysts Forecast Growth

KELYA has been the subject of a number of recent analyst reports. Wall Street Zen cut Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barrington Research reissued an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research report on Tuesday, May 20th.

Kelly Services Stock Performance

Kelly Services stock traded down $0.23 during trading hours on Friday, hitting $12.02. The stock had a trading volume of 344,326 shares, compared to its average volume of 300,647. The company has a 50-day moving average of $12.14 and a two-hundred day moving average of $12.63. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The company has a market cap of $419.38 million, a PE ratio of -20.03, a price-to-earnings-growth ratio of 0.45 and a beta of 0.95. Kelly Services, Inc. has a fifty-two week low of $10.80 and a fifty-two week high of $22.44.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.14). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Kelly Services had a positive return on equity of 6.13% and a negative net margin of 0.46%. On average, equities research analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 2.5%. Kelly Services's dividend payout ratio is -50.00%.

Kelly Services Company 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.