Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Update

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 485,700 shares, a drop of 25.0% from the May 15th total of 647,900 shares. Currently, 1.6% of the company's shares are sold short. Based on an average daily volume of 282,300 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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 downgraded Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th.

Institutional Investors Weigh In On Kelly Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of Kelly Services by 5,012.7% in the 1st quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider's stock worth $37,000 after purchasing an additional 2,757 shares during the period. Renaissance Technologies LLC bought a new position in Kelly Services in the fourth quarter worth approximately $5,343,000. Proficio Capital Partners LLC purchased a new stake in Kelly Services during the fourth quarter worth $201,000. Cetera Investment Advisers bought a new stake in Kelly Services during the 4th quarter valued at $158,000. Finally, Bank of America Corp DE increased its holdings in shares of Kelly Services by 123.7% in 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 period. 76.34% of the stock is owned by institutional investors.

Kelly Services Trading Down 2.6%

KELYA stock opened at $11.62 on Wednesday. Kelly Services has a 12 month low of $10.80 and a 12 month high of $23.81. The firm's 50-day moving average is $11.76 and its 200 day moving average is $12.94. The company has a market capitalization of $405.42 million, a PE ratio of -19.37, a P/E/G ratio of 0.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported $0.39 EPS 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 company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. On average, research analysts anticipate that Kelly Services will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.58%. Kelly Services's payout ratio is currently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.