JB Capital Partners LP Invests $1.54 Million in Kelly Services, Inc. $KELYA

JB Capital Partners LP purchased a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 117,486 shares of the business services provider’s stock, valued at approximately $1,541,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of KELYA. Versant Capital Management Inc grew its holdings in shares of Kelly Services by 52.0% during the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,028 shares during the last quarter. GAMMA Investing LLC lifted its position 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 worth $44,000 after buying an additional 2,156 shares in the last quarter. Tower Research Capital LLC TRC grew 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 acquiring an additional 1,967 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Kelly Services by 46.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock worth $65,000 after acquiring an additional 1,577 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Kelly Services during the third quarter valued at approximately $78,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Analysts Set New Price Targets

KELYA has been the subject of several research analyst reports. Barrington Research dropped their price objective on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Zacks Research lowered Kelly Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kelly Services has an average rating of “Hold” and a consensus target price of $15.00.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $8.53 on Monday. The firm has a fifty day moving average of $9.77 and a two-hundred day moving average of $10.58. The stock has a market capitalization of $291.81 million, a price-to-earnings ratio of -1.17, a PEG ratio of 0.62 and a beta of 0.79. Kelly Services, Inc. has a 52 week low of $7.98 and a 52 week high of $14.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.54 and a current ratio of 1.54.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities research analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.30 annualized dividend and a yield of 3.5%. Kelly Services’s dividend payout ratio is presently -4.13%.

Insider Transactions at Kelly Services

In related news, Director James Christopher Hunt bought 10,000 shares of Kelly Services stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the completion of the acquisition, the director owned 25,976 shares in the company, valued at approximately $244,953.68. This represents a 62.59% 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. Insiders bought a total of 25,100 shares of company stock worth $238,257 in the last quarter. 3.90% of the stock is currently owned by company insiders.

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.