Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Update

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 534,500 shares, an increase of 8.5% from the June 30th total of 492,700 shares. Based on an average trading volume of 155,900 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.7% of the company’s stock are short sold.

NASDAQ:KELYA traded up $0.40 on Friday, hitting $27.53. The stock had a trading volume of 758,840 shares, compared to its average volume of 135,550. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $1.09 billion, a P/E ratio of 12.13 and a beta of 0.76. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91. The firm’s fifty day simple moving average is $27.00 and its two-hundred day simple moving average is $24.46.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.16. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.42 billion. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Equities research analysts predict that Kelly Services will post 2.28 EPS for the current year.



The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.09%. Kelly Services’s dividend payout ratio (DPR) is 13.22%.

Several research firms have commented on KELYA. TheStreet upgraded shares of Kelly Services from a “c+” rating to a “b” rating in a research note on Monday, May 6th. ValuEngine upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Noble Financial began coverage on shares of Kelly Services in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 price objective for the company. BidaskClub upgraded shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Kelly Services has a consensus rating of “Buy” and an average price target of $32.33.

In related news, insider James Polehna sold 1,784 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total value of $48,917.28. Following the transaction, the insider now owns 21,399 shares of the company’s stock, valued at approximately $586,760.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.20% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in shares of Kelly Services during the 2nd quarter worth approximately $35,000. Panagora Asset Management Inc. increased its stake in shares of Kelly Services by 20.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 3,618 shares of the business services provider’s stock worth $95,000 after purchasing an additional 618 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Kelly Services by 22.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,900 shares of the business services provider’s stock worth $128,000 after purchasing an additional 900 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Kelly Services by 60.8% during the 1st quarter. Meeder Asset Management Inc. now owns 6,343 shares of the business services provider’s stock worth $139,000 after purchasing an additional 2,398 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Kelly Services by 104.5% during the 2nd quarter. Bank of Montreal Can now owns 5,485 shares of the business services provider’s stock worth $143,000 after purchasing an additional 2,803 shares during the last quarter. Hedge funds and other institutional investors own 66.50% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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