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

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 737,600 shares, a decline of 11.8% from the May 31st total of 836,400 shares. Based on an average daily trading volume, of 231,500 shares, the short-interest ratio is presently 3.2 days. Currently, 2.4% of the shares of the company are sold short.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Kelly Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Kelly Services by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,694,094 shares of the business services provider’s stock valued at $58,247,000 after acquiring an additional 22,006 shares during the period. Boston Partners purchased a new stake in Kelly Services during the 1st quarter worth approximately $18,618,000. LSV Asset Management increased its stake in Kelly Services by 3.4% during the 1st quarter. LSV Asset Management now owns 585,429 shares of the business services provider’s stock worth $14,659,000 after buying an additional 19,100 shares during the period. Comerica Bank purchased a new stake in Kelly Services during the 3rd quarter worth approximately $10,485,000. Finally, AQR Capital Management LLC increased its stake in Kelly Services by 24.2% during the 3rd quarter. AQR Capital Management LLC now owns 325,937 shares of the business services provider’s stock worth $5,929,000 after buying an additional 63,536 shares during the period. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

KELYA traded up $0.26 on Wednesday, reaching $21.59. 49,985 shares of the company’s stock were exchanged, compared to its average volume of 239,255. The stock has a market cap of $766.88 million, a PE ratio of 15.35, a P/E/G ratio of 0.77 and a beta of 1.22. Kelly Services has a twelve month low of $16.80 and a twelve month high of $25.27. The stock’s fifty day moving average price is $22.26 and its 200-day moving average price is $22.47.

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

Kelly Services Dividend Announcement

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

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.