Kelly Services (NASDAQ:KELYA) Receives “Outperform” Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Kelly Services (NASDAQ:KELYA) in a report published on Wednesday morning,Benzinga reports. The firm currently has a $25.00 price objective on the business services provider’s stock.

Kelly Services Trading Down 1.1 %

Shares of KELYA stock opened at $13.29 on Wednesday. The stock has a market cap of $473.26 million, a P/E ratio of 11.56, a P/E/G ratio of 0.40 and a beta of 1.11. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kelly Services has a fifty-two week low of $12.68 and a fifty-two week high of $25.27. The business has a fifty day simple moving average of $13.81 and a 200-day simple moving average of $17.50.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its position in Kelly Services by 49.0% in the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider’s stock valued at $26,450,000 after purchasing an additional 621,078 shares during the period. Pacer Advisors Inc. increased its position in shares of Kelly Services by 45.7% during the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock worth $25,944,000 after acquiring an additional 380,035 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Kelly Services by 498.0% during the 4th quarter. JPMorgan Chase & Co. now owns 162,987 shares of the business services provider’s stock worth $2,272,000 after purchasing an additional 135,730 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Kelly Services during the 4th quarter valued at approximately $1,732,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.