Pacer Advisors Inc. Grows Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Pacer Advisors Inc. boosted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 45.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,211,791 shares of the business services provider’s stock after buying an additional 380,035 shares during the period. Pacer Advisors Inc.’s holdings in Kelly Services were worth $25,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Kelly Services during the 2nd quarter valued at $30,000. Innealta Capital LLC purchased a new stake in Kelly Services during the 2nd quarter valued at $39,000. nVerses Capital LLC purchased a new stake in Kelly Services during the 2nd quarter valued at $47,000. Meeder Asset Management Inc. purchased a new stake in Kelly Services during the 2nd quarter valued at $51,000. Finally, SG Americas Securities LLC purchased a new stake in Kelly Services during the 1st quarter valued at $125,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Insider Transactions at Kelly Services

In other news, SVP Daniel H. Malan purchased 3,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, with a total value of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.90% of the company’s stock.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $14.40 on Friday. The stock’s fifty day moving average is $19.42 and its two-hundred day moving average is $20.80. The company has a market capitalization of $512.78 million, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. 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, Inc. has a 52 week low of $13.71 and a 52 week high of $25.27.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.50 EPS. The business’s revenue was down 7.1% compared to the same quarter last year. As a group, analysts expect that Kelly Services, Inc. will post 2.07 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s payout ratio is 26.09%.

Analysts Set New Price Targets

Several equities analysts have commented on KELYA shares. Barrington Research cut their price objective on Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services 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.