Kelly Services (NASDAQ:KELYA) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.00 and traded as high as $13.78. Kelly Services shares last traded at $13.51, with a volume of 515,470 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KELYA shares. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings lowered Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Finally, Barrington Research reiterated an “outperform” rating on shares of Kelly Services in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kelly Services has a consensus rating of “Hold” and a consensus target price of $15.00.

Kelly Services Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market cap of $465.96 million, a P/E ratio of -1.77, a P/E/G ratio of 1.03 and a beta of 0.84. The company’s 50 day moving average is $11.25 and its 200 day moving average is $10.03.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%. As a group, equities analysts predict that Kelly Services, Inc. will post 1.01 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s dividend payout ratio is presently -3.95%.

Insider Buying and Selling

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the transaction, the executive vice president directly owned 82,355 shares in the company, valued at approximately $805,431.90. This trade represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Kelly Services

Several hedge funds and other institutional investors have recently made changes to their positions in KELYA. GAMMA Investing LLC raised its holdings in Kelly Services by 19.9% in the 2nd quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,023 shares during the last quarter. Versant Capital Management Inc grew its holdings in Kelly Services by 47.0% during the 2nd quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock worth $90,000 after acquiring an additional 2,351 shares during the last quarter. Empowered Funds LLC grew its holdings in Kelly Services by 20.8% during the 1st quarter. Empowered Funds LLC now owns 155,590 shares of the business services provider’s stock worth $1,377,000 after acquiring an additional 26,832 shares during the last quarter. Quantinno Capital Management LP increased its position in Kelly Services by 34.5% in the 1st quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider’s stock valued at $1,673,000 after acquiring an additional 48,431 shares during the period. Finally, Lazard Asset Management LLC increased its position in Kelly Services by 8.0% in the 1st quarter. Lazard Asset Management LLC now owns 102,208 shares of the business services provider’s stock valued at $905,000 after acquiring an additional 7,561 shares during the period. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Company 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.