James Christopher Hunt Acquires 10,000 Shares of Kelly Services (NASDAQ:KELYA) Stock

Kelly Services, Inc. (NASDAQ:KELYA) Director James Christopher Hunt bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $9.57 per share, for a total transaction of $95,700.00. Following the completion of the acquisition, the director directly owned 15,976 shares in the company, valued at $152,890.32. The trade was a 167.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

James Christopher Hunt also recently made the following trade(s):

• On Monday, February 23rd, James Christopher Hunt acquired 10,000 shares of Kelly Services stock. The shares were bought at an average cost of $9.43 per share, with a total value of $94,300.00.
• On Wednesday, February 18th, James Christopher Hunt acquired 1,000 shares of Kelly Services stock. The stock was bought at an average cost of $9.58 per share, for a total transaction of $9,580.00.

Kelly Services Stock Performance

Shares of KELYA stock opened at $9.34 on Thursday. Kelly Services, Inc. has a 52 week low of $7.98 and a 52 week high of $14.94. The company has a market capitalization of $319.52 million, a price-to-earnings ratio of -1.28, a PEG ratio of 0.68 and a beta of 0.79. The company has a 50-day simple moving average of $9.66 and a 200 day simple moving average of $11.03. 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 issued its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts predict that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.30 annualized dividend and a yield of 3.2%. Kelly Services’s dividend payout ratio (DPR) is presently -4.13%.

Hedge Funds Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently modified their holdings of KELYA. AQR Capital Management LLC lifted its position in shares of Kelly Services by 24.3% during the 1st quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock worth $4,916,000 after buying an additional 73,040 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Kelly Services by 8.5% in the first quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after acquiring an additional 93,026 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Kelly Services by 4.2% in the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock valued at $2,829,000 after purchasing an additional 8,562 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Kelly Services by 181.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 70,928 shares of the business services provider’s stock worth $831,000 after purchasing an additional 45,722 shares in the last quarter. Finally, Versor Investments LP bought a new position in Kelly Services in the 2nd quarter valued at approximately $150,000. Institutional investors own 76.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KELYA. Barrington Research reduced their target price 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. Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a report on Thursday, January 22nd. Zacks Research cut shares of Kelly Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Kelly Services currently has a consensus rating of “Hold” and an average target price of $15.00.

About Kelly Services

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.