Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Update

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 485,700 shares, a drop of 25.0% from the May 15th total of 647,900 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 282,300 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Kelly Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Kelly Services during the 1st quarter valued at $514,000. Empowered Funds LLC increased its position in Kelly Services by 4.2% during the first quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after buying an additional 8,562 shares during the last quarter. Caxton Associates LLP bought a new position in Kelly Services during the first quarter valued at about $488,000. Petrus Trust Company LTA bought a new position in Kelly Services during the first quarter valued at about $442,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Kelly Services in the first quarter worth about $136,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Kelly Services from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Kelly Services in a report on Tuesday, May 20th.

Kelly Services Price Performance

Shares of KELYA opened at $11.55 on Friday. The business’s 50-day moving average is $11.75 and its 200-day moving average is $12.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $402.98 million, a price-to-earnings ratio of -19.25, a P/E/G ratio of 0.42 and a beta of 0.96. Kelly Services has a fifty-two week low of $10.80 and a fifty-two week high of $23.81.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.46% and a positive return on equity of 6.13%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Equities research analysts expect that Kelly Services will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, May 19th. Kelly Services’s payout ratio is currently -50.00%.

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.