Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Up 28.2% in March

Kelly Services, Inc. (NASDAQ:KELYA) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,159,877 shares, an increase of 28.2% from the February 26th total of 904,803 shares. Based on an average daily trading volume, of 342,161 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.5% of the company’s shares are sold short.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, CEO Christopher D. Layden acquired 10,100 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was bought at an average price of $8.80 per share, with a total value of $88,880.00. Following the completion of the transaction, the chief executive officer directly owned 382,513 shares of the company’s stock, valued at approximately $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Christopher Hunt bought 4,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $9.30 per share, for a total transaction of $37,200.00. Following the purchase, the director owned 29,976 shares in the company, valued at approximately $278,776.80. This trade represents a 15.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 35,200 shares of company stock valued at $327,137 in the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

A number of institutional investors have recently made changes to their positions in the business. Quarry LP grew its position in shares of Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after buying an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Kelly Services in the fourth quarter valued at $30,000. Versant Capital Management Inc raised its holdings in Kelly Services by 52.0% in the third 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. Meeder Asset Management Inc. bought a new position in Kelly Services during the 4th quarter valued at $42,000. Finally, GAMMA Investing LLC boosted its stake in Kelly Services by 175.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 2,156 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Stock Performance

Shares of KELYA stock opened at $8.78 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54. The company’s fifty day moving average price is $9.60 and its two-hundred day moving average price is $10.21. The firm has a market capitalization of $300.36 million, a P/E ratio of -1.21, a P/E/G ratio of 0.64 and a beta of 0.79. Kelly Services has a 12 month low of $7.98 and a 12 month high of $14.94.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a negative net margin of 5.98% and a positive return on equity of 4.05%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, research analysts anticipate that Kelly Services 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 Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, February 25th. Kelly Services’s dividend payout ratio (DPR) is -4.13%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research downgraded Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Barrington Research decreased their price target on Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Kelly Services has a consensus rating of “Hold” and an average price target of $15.00.

Kelly Services Company 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.