Freestone Grove Partners LP Invests $573,000 in Kforce Inc. (NASDAQ:KFRC)

Freestone Grove Partners LP bought a new stake in Kforce Inc. (NASDAQ:KFRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,098 shares of the business services provider's stock, valued at approximately $573,000. Freestone Grove Partners LP owned 0.05% of Kforce at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Kforce by 147.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock valued at $63,000 after purchasing an additional 666 shares in the last quarter. Blue Trust Inc. grew its holdings in Kforce by 17.9% during the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock worth $111,000 after acquiring an additional 275 shares during the period. PNC Financial Services Group Inc. raised its position in Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock worth $144,000 after acquiring an additional 485 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Kforce in the fourth quarter valued at $206,000. Finally, Callan Family Office LLC purchased a new stake in shares of Kforce during the 4th quarter worth $207,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Kforce Price Performance

Shares of KFRC stock traded down $0.02 during trading hours on Friday, hitting $39.61. The company's stock had a trading volume of 39,792 shares, compared to its average volume of 127,279. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $45.92 and a 200-day moving average of $52.64. Kforce Inc. has a twelve month low of $35.50 and a twelve month high of $71.48. The stock has a market cap of $737.93 million, a price-to-earnings ratio of 14.78 and a beta of 0.74.

Kforce (NASDAQ:KFRC - Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million during the quarter, compared to analysts' expectations of $334.61 million. During the same quarter last year, the company posted $0.58 earnings per share. Kforce's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, June 13th. Kforce's dividend payout ratio (DPR) is currently 61.18%.

Insider Activity at Kforce

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director now owns 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. UBS Group lowered their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, StockNews.com cut Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

Kforce Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.