Kelly Services, Inc. (NASDAQ:KELYA) Sees Significant Decrease in Short Interest

Kelly Services, Inc. (NASDAQ:KELYA) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 737,600 shares, a drop of 11.8% from the May 31st total of 836,400 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 231,500 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Investors Weigh In On Kelly Services

Several hedge funds have recently modified their holdings of KELYA. SG Americas Securities LLC acquired a new position in Kelly Services during the first quarter valued at approximately $125,000. Lazard Asset Management LLC acquired a new position in Kelly Services during the first quarter valued at approximately $177,000. Susquehanna Fundamental Investments LLC acquired a new position in Kelly Services during the first quarter valued at approximately $221,000. Price T Rowe Associates Inc. MD acquired a new position in Kelly Services during the first quarter valued at approximately $225,000. Finally, Brandes Investment Partners LP acquired a new position in Kelly Services during the fourth quarter valued at approximately $259,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Trading Up 1.2 %

Shares of NASDAQ KELYA traded up $0.26 during midday trading on Wednesday, reaching $21.59. 49,985 shares of the stock were exchanged, compared to its average volume of 239,255. The company has a market capitalization of $766.88 million, a P/E ratio of 15.35, a P/E/G ratio of 0.77 and a beta of 1.22. Kelly Services has a 52-week low of $16.80 and a 52-week high of $25.27. The stock has a 50 day moving average price of $22.26 and a 200-day moving average price of $22.47.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.10. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. On average, analysts forecast that Kelly Services will post 2.13 earnings per share for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.39%. Kelly Services’s dividend payout ratio is presently 21.58%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a report on Tuesday, May 28th.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.