Kelly Services, Inc. (NASDAQ:KELYA) was the recipient of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 736,700 shares, a growth of 19.7% from the November 14th total of 615,500 shares. Based on an average daily volume of 147,700 shares, the short-interest ratio is presently 5.0 days. Currently, 2.2% of the company’s stock are sold short.
In other Kelly Services news, Director George S. Corona sold 20,078 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $22.09, for a total value of $443,523.02. Following the sale, the director now owns 146,721 shares in the company, valued at $3,241,066.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George S. Corona sold 59,405 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $21.83, for a total value of $1,296,811.15. Following the completion of the sale, the director now owns 153,636 shares in the company, valued at approximately $3,353,873.88. The disclosure for this sale can be found here. Insiders have sold 81,118 shares of company stock valued at $1,776,181 over the last three months. Insiders own 7.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Kelly Services by 31.5% during the second quarter. Wells Fargo & Company MN now owns 380,752 shares of the business services provider’s stock worth $9,973,000 after purchasing an additional 91,296 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Kelly Services by 69.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 31,758 shares of the business services provider’s stock worth $832,000 after purchasing an additional 13,061 shares during the period. Acadian Asset Management LLC increased its stake in shares of Kelly Services by 11.9% during the second quarter. Acadian Asset Management LLC now owns 299,877 shares of the business services provider’s stock worth $7,855,000 after purchasing an additional 31,920 shares during the period. Rhumbline Advisers increased its stake in shares of Kelly Services by 9.6% during the third quarter. Rhumbline Advisers now owns 106,710 shares of the business services provider’s stock worth $2,585,000 after purchasing an additional 9,385 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of Kelly Services during the second quarter worth approximately $5,043,000. Hedge funds and other institutional investors own 67.61% of the company’s stock.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Kelly Services had a net margin of 1.32% and a return on equity of 7.66%. Kelly Services’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, sell-side analysts anticipate that Kelly Services will post 2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.30 annualized dividend and a yield of 1.35%. Kelly Services’s dividend payout ratio is 13.22%.
Several research firms have issued reports on KELYA. Zacks Investment Research lowered Kelly Services from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. BidaskClub lowered Kelly Services from a “hold” rating to a “sell” rating in a research note on Friday. Northcoast Research lowered Kelly Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 28th. TheStreet lowered Kelly Services from a “b” rating to a “c+” rating in a research note on Wednesday, November 6th. Finally, Noble Financial set a $32.00 price objective on Kelly Services and gave the company a “buy” rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.50.
About Kelly Services
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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