Kforce Inc. (NASDAQ:KFRC) Sees Large Growth in Short Interest

Kforce Inc. (NASDAQ:KFRC) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 667,400 shares, a growth of 24.0% from the June 30th total of 538,100 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average trading volume of 123,400 shares, the short-interest ratio is currently 5.4 days.

A number of equities analysts recently weighed in on KFRC shares. ValuEngine downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research downgraded shares of Kforce from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, BidaskClub raised shares of Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th.

NASDAQ KFRC traded down $0.63 during mid-day trading on Wednesday, reaching $32.98. 129,477 shares of the stock were exchanged, compared to its average volume of 115,846. Kforce has a one year low of $27.95 and a one year high of $43.10. The company has a 50 day moving average of $35.24. The stock has a market cap of $826.37 million, a PE ratio of 14.34 and a beta of 1.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.34 and a current ratio of 3.34.



Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. Kforce had a net margin of 9.73% and a return on equity of 32.02%. The firm had revenue of $338.86 million during the quarter, compared to the consensus estimate of $345.81 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Kforce will post 2.37 EPS for the current fiscal year.

In related news, Director N John Simmons sold 1,500 shares of Kforce stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gordon Tunstall sold 3,000 shares of Kforce stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.98, for a total transaction of $104,940.00. The disclosure for this sale can be found here. Insiders have sold 4,928 shares of company stock valued at $172,013 in the last ninety days. Insiders own 11.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KFRC. Zebra Capital Management LLC raised its position in Kforce by 12.1% in the second quarter. Zebra Capital Management LLC now owns 8,540 shares of the business services provider’s stock worth $300,000 after acquiring an additional 922 shares during the period. A.R.T. Advisors LLC raised its position in Kforce by 9.7% in the second quarter. A.R.T. Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $279,000 after acquiring an additional 700 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Kforce by 10.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 42,166 shares of the business services provider’s stock worth $1,480,000 after acquiring an additional 4,120 shares during the period. BlackRock Inc. raised its position in shares of Kforce by 1.5% in the second quarter. BlackRock Inc. now owns 2,360,663 shares of the business services provider’s stock valued at $82,837,000 after purchasing an additional 33,929 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Kforce by 83.8% in the second quarter. APG Asset Management N.V. now owns 78,100 shares of the business services provider’s stock valued at $2,407,000 after purchasing an additional 35,600 shares during the period. 86.52% of the stock is owned by hedge funds and other institutional investors.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

Further Reading: Bid-Ask Spread

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