Kelly Services, Inc. (NASDAQ:KELYA) Shares Sold by Morgan Stanley


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Morgan Stanley lessened its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 11.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,077 shares of the business services provider’s stock after selling 11,675 shares during the quarter. Morgan Stanley owned approximately 0.22% of Kelly Services worth $1,466,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KELYA. PNC Financial Services Group Inc. boosted its position in shares of Kelly Services by 13.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,125 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 839 shares during the last quarter. American International Group Inc. boosted its position in shares of Kelly Services by 4.3% during the 2nd quarter. American International Group Inc. now owns 23,763 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 973 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Kelly Services by 29.1% during the 2nd quarter. Bank of Montreal Can now owns 10,674 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 2,407 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Kelly Services by 12.8% during the 2nd quarter. Marshall Wace LLP now owns 16,645 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 1,883 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Kelly Services by 326.7% during the 2nd quarter. Federated Hermes Inc. now owns 13,335 shares of the business services provider’s stock valued at $211,000 after acquiring an additional 10,210 shares during the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KELYA opened at $21.26 on Thursday. The firm has a market cap of $835.45 million, a P/E ratio of -10.52, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23. Kelly Services, Inc. has a 12-month low of $10.13 and a 12-month high of $23.00. The company’s 50-day moving average price is $21.31 and its 200 day moving average price is $18.46.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, November 5th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.19. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a negative net margin of 1.70% and a positive return on equity of 5.70%. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that Kelly Services, Inc. will post 1.31 earnings per share for the current year.

KELYA has been the topic of several research analyst reports. Barrington Research boosted their price objective on shares of Kelly Services from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 9th. Zacks Investment Research lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Monday. Finally, BidaskClub lowered shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Friday, January 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $25.00.

Kelly Services Profile

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 5G, aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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Institutional Ownership by Quarter for Kelly Services (NASDAQ:KELYA)

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