Kelly Services, Inc. (NASDAQ:KELYA) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 923.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,469 shares of the business services provider’s stock after acquiring an additional 86,139 shares during the quarter. GAMMA Investing LLC owned approximately 0.27% of Kelly Services worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KELYA. Palouse Capital Management Inc. raised its holdings in shares of 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 valued at $114,000 after acquiring an additional 950 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Kelly Services during the fourth quarter valued at approximately $508,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Kelly Services during the fourth quarter valued at approximately $1,481,000. Proficio Capital Partners LLC acquired a new position in shares of Kelly Services during the fourth quarter valued at approximately $201,000. Finally, Parkside Financial Bank & Trust grew its position 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 valued at $60,000 after purchasing an additional 1,406 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KELYA shares. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Kelly Services in a research report on Tuesday, May 20th. Wall Street Zen lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th.

Kelly Services Price Performance

KELYA stock opened at $11.51 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. The business has a 50 day simple moving average of $11.76 and a 200-day simple moving average of $12.97. The firm has a market capitalization of $401.56 million, a PE ratio of -191.80, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. Kelly Services, Inc. has a 1 year low of $10.80 and a 1 year high of $23.81.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. Equities research analysts anticipate that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a $0.075 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.61%. Kelly Services’s payout ratio is -50.00%.

Kelly Services 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.