Kelly Services, Inc. (NASDAQ:KELYB) Short Interest Up 765.1% in April

Key Points

• Short interest rose 765.1% in April to 2,656 shares from 307 at the end of March, equal to about 0.1% of shares short and a days-to-cover ratio of 0.1 days.
• Kelly shares traded at $16.67 mid-day with a market cap of $570.5M, a negative P/E of -2.29, and a wide 52-week range of $8.38 to $125.00, indicating notable volatility.
• The company pays a quarterly dividend of $0.075 ($0.30 annualized, ~1.8% yield) while analysts maintain a consensus "Sell" rating after Weiss Ratings reaffirmed a sell on March 27.

Kelly Services, Inc. (NASDAQ:KELYB - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 2,656 shares, an increase of 765.1% from the March 31st total of 307 shares. Based on an average daily trading volume, of 45,713 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company's stock are short sold.

Kelly Services Stock Performance

Kelly Services stock traded down $0.39 during mid-day trading on Friday, hitting $16.67. 4,643 shares of the company's stock traded hands, compared to its average volume of 56,999. The firm has a 50 day simple moving average of $14.76 and a two-hundred day simple moving average of $12.54. Kelly Services has a fifty-two week low of $8.38 and a fifty-two week high of $125.00. The stock has a market cap of $570.45 million, a price-to-earnings ratio of -2.29 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54.

Kelly Services (NASDAQ:KELYB - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were paid a $0.075 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.30 annualized dividend and a yield of 1.8%. Kelly Services's payout ratio is -4.13%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Kelly Services in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

About Kelly Services

Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.

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