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

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 721,600 shares, an increase of 8.4% from the July 31st total of 665,800 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 238,400 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in Kelly Services in the 2nd quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in shares of Kelly Services during the second quarter valued at approximately $39,000. nVerses Capital LLC bought a new stake in shares of Kelly Services during the second quarter valued at approximately $47,000. Meeder Asset Management Inc. bought a new stake in shares of Kelly Services during the second quarter valued at approximately $51,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services during the first quarter valued at approximately $125,000. 76.34% of the stock is owned by institutional investors.

Kelly Services Stock Down 2.3 %

KELYA opened at $20.63 on Wednesday. The business has a 50 day moving average price of $21.31 and a 200 day moving average price of $22.56. Kelly Services has a twelve month low of $17.40 and a twelve month high of $25.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $732.82 million, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. Research analysts forecast that Kelly Services will post 2.49 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, August 21st. Kelly Services’s dividend payout ratio is currently 21.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KELYA shares. Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a report on Thursday, August 15th. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

About Kelly Services

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.