Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Down 11.8% in June

Kelly Services, Inc. (NASDAQ:KELYAGet Free Report) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 737,600 shares, a decline of 11.8% from the May 31st total of 836,400 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 231,500 shares, the short-interest ratio is presently 3.2 days.

Kelly Services Price Performance

Kelly Services stock opened at $21.33 on Wednesday. Kelly Services has a 1-year low of $16.80 and a 1-year high of $25.27. The company has a market cap of $757.64 million, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. The stock’s 50 day moving average price is $22.26 and its 200 day moving average price is $22.47.

Kelly Services (NASDAQ:KELYAGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. On average, equities research analysts anticipate that Kelly Services will post 2.13 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, May 17th. Kelly Services’s payout ratio is currently 21.58%.

Hedge Funds Weigh In On Kelly Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KELYA. Comerica Bank acquired a new position in shares of Kelly Services in the third quarter valued at approximately $10,485,000. ARGA Investment Management LP raised its position in shares of Kelly Services by 167.0% in the fourth quarter. ARGA Investment Management LP now owns 33,010 shares of the business services provider’s stock valued at $714,000 after buying an additional 20,645 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Kelly Services in the fourth quarter valued at approximately $1,730,000. AQR Capital Management LLC raised its position in shares of Kelly Services by 24.2% in the third quarter. AQR Capital Management LLC now owns 325,937 shares of the business services provider’s stock valued at $5,929,000 after buying an additional 63,536 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Kelly Services by 10.7% in the fourth quarter. Mackenzie Financial Corp now owns 43,691 shares of the business services provider’s stock valued at $945,000 after buying an additional 4,228 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research note on Tuesday, May 28th.

Read Our Latest Stock Report on KELYA

Kelly Services Company Profile

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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.

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