Raffles Associates LP Acquires New Shares in Kelly Services, Inc. (NASDAQ:KELYA)

Raffles Associates LP purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 66,790 shares of the business services provider's stock, valued at approximately $931,000. Kelly Services accounts for 1.0% of Raffles Associates LP's portfolio, making the stock its 26th largest holding. Raffles Associates LP owned about 0.19% of Kelly Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KELYA. Boston Partners increased its holdings in Kelly Services by 49.0% during the 4th quarter. Boston Partners now owns 1,889,389 shares of the business services provider's stock valued at $26,450,000 after purchasing an additional 621,078 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Kelly Services by 10.7% in the fourth quarter. American Century Companies Inc. now owns 897,155 shares of the business services provider's stock valued at $12,506,000 after buying an additional 86,560 shares during the last quarter. Geode Capital Management LLC lifted its position in Kelly Services by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 791,125 shares of the business services provider's stock worth $11,031,000 after buying an additional 9,464 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Kelly Services during the 4th quarter worth about $5,343,000. Finally, Kennedy Capital Management LLC acquired a new stake in Kelly Services in the 4th quarter valued at about $4,082,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Trading Up 2.0 %

Kelly Services stock traded up $0.23 during mid-day trading on Friday, hitting $11.73. The stock had a trading volume of 151,810 shares, compared to its average volume of 345,638. The stock has a 50-day simple moving average of $12.45 and a two-hundred day simple moving average of $14.17. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $409.24 million, a PE ratio of -195.47, a P/E/G ratio of 0.43 and a beta of 1.03. Kelly Services, Inc. has a 12 month low of $10.80 and a 12 month high of $23.97.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.38. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.30 annualized dividend and a dividend yield of 2.56%. Kelly Services's dividend payout ratio is currently -500.00%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of Kelly Services in a report on Tuesday, February 18th.

About Kelly Services

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.