Kelly Services, Inc. (NASDAQ:KELYA) Sees Significant Growth in Short Interest

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 635,200 shares, an increase of 10.7% from the January 15th total of 573,700 shares. Based on an average daily trading volume, of 617,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 2.1% of the company’s stock are sold short.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of Kelly Services stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Kelly Services by 2,251.9% during the fourth quarter. Millennium Management LLC now owns 1,095,238 shares of the business services provider’s stock valued at $15,268,000 after acquiring an additional 1,048,670 shares during the last quarter. Boston Partners lifted its position in Kelly Services by 49.0% during the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider’s stock worth $26,450,000 after buying an additional 621,078 shares during the period. Jane Street Group LLC raised its holdings in shares of Kelly Services by 2,489.0% in the 4th quarter. Jane Street Group LLC now owns 603,057 shares of the business services provider’s stock worth $8,407,000 after purchasing an additional 579,764 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Kelly Services in the 4th quarter worth about $5,343,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Kelly Services by 45.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after buying an additional 380,035 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Stock Down 0.8 %

KELYA traded down $0.11 on Monday, reaching $14.14. The company’s stock had a trading volume of 374,805 shares, compared to its average volume of 261,028. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kelly Services has a fifty-two week low of $12.68 and a fifty-two week high of $25.27. The stock has a 50 day moving average of $13.80 and a two-hundred day moving average of $17.27. The company has a market capitalization of $503.53 million, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.40 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.38. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, analysts forecast that Kelly Services will post 1.93 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 26th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of Kelly Services in a research note on Wednesday, February 12th.

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.