Kelly Services, Inc. (NASDAQ:KELYA) Sees Large Decrease in Short Interest

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) saw a large drop in short interest in 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. Based on an average daily volume of 282,300 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.6% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen cut Kelly Services from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday, May 20th.

Kelly Services Price Performance

NASDAQ:KELYA traded down $0.41 on Friday, reaching $11.14. 814,761 shares of the company's stock traded hands, compared to its average volume of 346,147. 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 stock has a 50-day simple moving average of $11.74 and a 200-day simple moving average of $12.88. The firm has a market cap of $388.67 million, a PE ratio of -18.57, a P/E/G ratio of 0.41 and a beta of 0.96. Kelly Services has a 12 month low of $10.80 and a 12 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 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Kelly Services had a negative net margin of 0.46% and a positive return on equity of 6.13%. Equities research analysts forecast that Kelly Services 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 Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued 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 2.69%. Kelly Services's dividend payout ratio is presently -50.00%.

Institutional Investors Weigh In On Kelly Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Kelly Services in the fourth quarter worth about $508,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Kelly Services in the fourth quarter worth about $1,481,000. Proficio Capital Partners LLC bought a new stake in shares of Kelly Services in the fourth quarter worth about $201,000. Parkside Financial Bank & Trust increased its holdings in shares of Kelly Services by 49.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock worth $60,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Kelly Services by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 32,611 shares of the business services provider's stock worth $455,000 after purchasing an additional 1,411 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

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.