Kelly Services (NASDAQ:KELYA) Director Acquires $37,200.00 in Stock

Kelly Services, Inc. (NASDAQ:KELYA) Director James Christopher Hunt acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $9.30 per share, with a total value of $37,200.00. Following the completion of the purchase, the director directly owned 29,976 shares in the company, valued at $278,776.80. This represents a 15.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 23rd, James Christopher Hunt bought 10,000 shares of Kelly Services stock. The stock was purchased at an average cost of $9.43 per share, for a total transaction of $94,300.00.
• On Friday, February 20th, James Christopher Hunt purchased 10,000 shares of Kelly Services stock. The stock was purchased at an average price of $9.57 per share, with a total value of $95,700.00.
• On Wednesday, February 18th, James Christopher Hunt purchased 1,000 shares of Kelly Services stock. The shares were purchased at an average cost of $9.58 per share, with a total value of $9,580.00.

Kelly Services Price Performance

Kelly Services stock opened at $9.71 on Friday. The firm has a market capitalization of $332.18 million, a PE ratio of -1.34, a P/E/G ratio of 0.71 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 firm’s 50-day simple moving average is $9.69 and its 200 day simple moving average is $10.97. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.10.

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

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.30 dividend on an annualized basis and a yield of 3.1%. Kelly Services’s dividend payout ratio is presently -4.13%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KELYA. Zacks Research cut Kelly Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Barrington Research reduced their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Kelly Services by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock worth $27,176,000 after acquiring an additional 151,655 shares during the last quarter. Boston Partners raised its stake in Kelly Services by 0.4% during the third quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock worth $26,908,000 after purchasing an additional 9,020 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kelly Services by 39.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock valued at $16,798,000 after purchasing an additional 544,309 shares during the last quarter. Private Management Group Inc. boosted its holdings in shares of Kelly Services by 101.8% in the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after purchasing an additional 640,076 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Kelly Services by 8.5% during the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after buying an additional 93,026 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.