Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,578 shares of the business services provider’s stock after selling 3,569 shares during the period. Rhumbline Advisers owned approximately 0.14% of Kelly Services worth $640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in Kelly Services by 5,012.7% during the first quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 2,757 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after purchasing an additional 1,406 shares in the last quarter. AXQ Capital LP purchased a new stake in Kelly Services during the 4th quarter valued at about $154,000. Cetera Investment Advisers purchased a new stake in Kelly Services during the 4th quarter valued at about $158,000. Finally, Federated Hermes Inc. boosted its holdings in Kelly Services by 9.6% in the 4th quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 1,076 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KELYA has been the topic of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Kelly Services in a report on Tuesday, May 20th. Wall Street Zen downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th.

Kelly Services Stock Performance

NASDAQ:KELYA opened at $11.14 on Friday. The firm has a 50 day simple moving average of $11.74 and a 200-day simple moving average of $12.88. 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 firm has a market cap of $388.67 million, a PE ratio of -18.57, a P/E/G ratio of 0.41 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 released its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.14). Kelly Services had a positive return on equity of 6.13% and a negative net margin of 0.46%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. On average, equities analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a dividend of $0.075 per share. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 2.69%. Kelly Services’s dividend payout ratio (DPR) is -50.00%.

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.