Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Down 20.8% in May

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 647,900 shares, a drop of 20.8% from the April 30th total of 818,400 shares. Based on an average daily volume of 290,900 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.1% of the shares of the company are sold short.

Kelly Services Price Performance

Kelly Services stock traded up $0.00 during mid-day trading on Thursday, hitting $11.67. 49,375 shares of the company were exchanged, compared to its average volume of 344,514. The business has a fifty day moving average of $11.84 and a 200 day moving average of $13.11. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $407.18 million, a PE ratio of -194.55, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. Kelly Services has a 1-year low of $10.80 and a 1-year high of $23.81.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its earnings results on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate 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 positive return on equity of 6.56% and a negative net margin of 0.01%. As a group, sell-side analysts expect that Kelly Services will post 2.45 earnings per share for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, May 19th. Kelly Services's payout ratio is presently -50.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen cut Kelly Services from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of Kelly Services in a research note on Tuesday, May 20th.

Hedge Funds Weigh In On Kelly Services

Several hedge funds have recently added to or reduced their stakes in KELYA. KBC Group NV boosted its holdings in Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider's stock valued at $54,000 after acquiring an additional 2,028 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Kelly Services by 28.6% in the fourth quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider's stock valued at $1,359,000 after acquiring an additional 21,672 shares during the last quarter. Empowered Funds LLC boosted its holdings in Kelly Services by 5.1% in the fourth quarter. Empowered Funds LLC now owns 206,267 shares of the business services provider's stock valued at $2,875,000 after acquiring an additional 9,984 shares during the last quarter. Entropy Technologies LP bought a new position in Kelly Services during the fourth quarter worth about $153,000. Finally, Palouse Capital Management Inc. boosted its holdings in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock worth $114,000 after buying an additional 950 shares during the last quarter. Institutional investors own 76.34% of the company's stock.

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.