Short Interest in Kelly Services, Inc. (NASDAQ:KELYA) Drops By 14.1%

Kelly Services, Inc. (NASDAQ:KELYA) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 666,400 shares, a drop of 14.1% from the February 28th total of 776,200 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 558,100 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Kelly Services in a research report on Tuesday, February 18th.

Institutional Trading of Kelly Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kelly Services by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,786 shares of the business services provider’s stock worth $248,000 after acquiring an additional 760 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Kelly Services by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock worth $521,000 after purchasing an additional 945 shares in the last quarter. Palouse Capital Management Inc. raised its stake in shares of Kelly Services by 13.1% in the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock worth $114,000 after purchasing an additional 950 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Kelly Services by 9.6% in the fourth 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 in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position 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 valued at $60,000 after buying an additional 1,406 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

Kelly Services Trading Down 2.1 %

Shares of Kelly Services stock traded down $0.28 during midday trading on Wednesday, reaching $12.96. The company had a trading volume of 38,302 shares, compared to its average volume of 333,799. The firm has a market cap of $452.15 million, a PE ratio of -215.96, a P/E/G ratio of 0.43 and a beta of 1.13. The stock has a fifty day moving average price of $13.59 and a 200 day moving average price of $15.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. Kelly Services has a fifty-two week low of $12.66 and a fifty-two week high of $24.74.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.38. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts anticipate that Kelly Services will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.31%. Kelly Services’s payout ratio is presently -500.00%.

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.