Kelly Services, Inc. $KELYA Stock Position Reduced by ARGA Investment Management LP

ARGA Investment Management LP lessened its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,037 shares of the business services provider’s stock after selling 72,366 shares during the period. ARGA Investment Management LP owned 0.10% of Kelly Services worth $447,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KELYA. Versant Capital Management Inc raised its stake in Kelly Services by 52.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,028 shares in the last quarter. GAMMA Investing LLC raised its position 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. Tower Research Capital LLC TRC raised its holdings in Kelly Services by 83.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after buying an additional 1,967 shares during the period. Bfsg LLC purchased a new stake in shares of Kelly Services in the 3rd quarter valued at approximately $78,000. Finally, State of Wyoming acquired a new stake in shares of Kelly Services in the second quarter worth $116,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Trading Down 1.4%

NASDAQ:KELYA opened at $10.22 on Friday. The business’s 50-day moving average price is $8.98 and its two-hundred day moving average price is $11.45. Kelly Services, Inc. has a 1-year low of $7.98 and a 1-year high of $15.11. The firm has a market capitalization of $361.17 million, a price-to-earnings ratio of -2.28, a PEG ratio of 0.46 and a beta of 0.79. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $972.80 million. Kelly Services had a negative net margin of 3.58% and a positive return on equity of 5.74%. On average, equities analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current 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 paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.30 annualized dividend and a dividend yield of 2.9%. Kelly Services’s payout ratio is currently -6.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KELYA. Wall Street Zen cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research note on Wednesday, October 8th. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Barrington Research decreased their price target on shares of Kelly Services from $25.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Kelly Services Profile

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.