Assenagon Asset Management S.A. Takes $1.33 Million Position in Kelly Services, Inc. $KELYA

Assenagon Asset Management S.A. bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 101,193 shares of the business services provider’s stock, valued at approximately $1,328,000. Assenagon Asset Management S.A. owned 0.29% of Kelly Services at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KELYA. GAMMA Investing LLC increased its holdings in shares of Kelly Services by 175.4% during the third quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock worth $44,000 after purchasing an additional 2,156 shares during the period. Quarry LP acquired a new stake in shares of Kelly Services in the 1st quarter valued at approximately $48,000. Tower Research Capital LLC TRC increased its holdings in Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares in the last quarter. State of Wyoming acquired a new stake in Kelly Services during the 2nd quarter worth approximately $116,000. Finally, PharVision Advisers LLC acquired a new position in shares of Kelly Services during the first quarter worth $136,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Trading Up 1.5%

Kelly Services stock opened at $8.62 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. Kelly Services, Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $15.11. The stock has a market cap of $304.45 million, a P/E ratio of -1.92, a PEG ratio of 0.41 and a beta of 0.79. The firm’s fifty day moving average price is $9.69 and its 200-day moving average price is $11.83.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, November 6th. The business services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $972.80 million. Kelly Services had a positive return on equity of 5.74% and a negative net margin of 3.58%. Equities research analysts forecast that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, November 19th. Kelly Services’s dividend payout ratio is presently -6.70%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a report on Wednesday, October 8th. Zacks Research downgraded shares of Kelly Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Wall Street Zen cut Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Barrington Research cut their target price on Kelly Services from $25.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Finally, UBS Group restated an “outperform” rating on shares of Kelly Services in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.00.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.