Prescott Group Capital Management L.L.C. Buys Shares of 55,456 Kelly Services, Inc. $KELYA

Prescott Group Capital Management L.L.C. bought a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 55,456 shares of the business services provider’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KELYA. Private Management Group Inc. bought a new position in shares of Kelly Services during the 3rd quarter valued at $8,247,000. JPMorgan Chase & Co. lifted its holdings in shares of Kelly Services by 1,328.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock valued at $5,408,000 after buying an additional 383,357 shares during the period. Bank of America Corp DE lifted its holdings in shares of Kelly Services by 186.9% during the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock valued at $6,333,000 after buying an additional 314,447 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Kelly Services by 77.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock valued at $9,015,000 after buying an additional 300,178 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Kelly Services by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after buying an additional 151,655 shares during the period. 76.34% of the stock is owned by institutional investors.

Kelly Services Stock Performance

Shares of KELYA opened at $10.29 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $9.19 and a two-hundred day simple moving average of $9.32. The stock has a market cap of $356.75 million, a price-to-earnings ratio of -1.35, a PEG ratio of 0.74 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.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%. On average, analysts expect that Kelly Services, Inc. will post 1.01 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th will be given a $0.075 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a yield of 2.9%. Kelly Services’s dividend payout ratio is presently -3.95%.

Analyst Ratings Changes

KELYA has been the topic of several research analyst reports. Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Barrington Research lowered their price target on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Finally, Weiss Ratings cut Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.00.

Insiders Place Their Bets

In other Kelly Services news, CEO Christopher D. Layden purchased 10,100 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were acquired at an average cost of $8.80 per share, with a total value of $88,880.00. Following the completion of the acquisition, the chief executive officer directly owned 382,513 shares in the company, valued at $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Christopher Hunt purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $9.30 per share, for a total transaction of $37,200.00. Following the completion of the acquisition, the director owned 29,976 shares of the company’s stock, valued at approximately $278,776.80. This trade represents a 15.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 34,200 shares of company stock worth $317,557 over the last quarter. 5.40% of the stock is currently owned by corporate 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.