Kelly Services (NASDAQ:KELYA) Director Purchases $95,700.00 in Stock

Kelly Services, Inc. (NASDAQ:KELYA) Director James Christopher Hunt acquired 10,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $9.57 per share, for a total transaction of $95,700.00. Following the transaction, the director directly owned 15,976 shares in the company, valued at $152,890.32. The trade was a 167.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

James Christopher Hunt also recently made the following trade(s):

• On Wednesday, February 25th, James Christopher Hunt bought 4,000 shares of Kelly Services stock. The shares were acquired at an average price of $9.30 per share, with a total value of $37,200.00.
• On Monday, February 23rd, James Christopher Hunt bought 10,000 shares of Kelly Services stock. The shares were bought at an average cost of $9.43 per share, with a total value of $94,300.00.
• On Wednesday, February 18th, James Christopher Hunt purchased 1,000 shares of Kelly Services stock. The stock was bought at an average price of $9.58 per share, for a total transaction of $9,580.00.

Kelly Services Trading Up 3.2%

Shares of KELYA opened at $9.64 on Friday. Kelly Services, Inc. has a 1-year low of $7.98 and a 1-year high of $14.94. The company has a 50-day moving average of $9.68 and a 200 day moving average of $11.02. The firm has a market capitalization of $329.78 million, a price-to-earnings ratio of -1.33, a PEG ratio of 0.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. On average, research analysts expect that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, February 25th. Kelly Services’s dividend payout ratio (DPR) is presently -4.13%.

Institutional Trading of Kelly Services

A number of institutional investors have recently modified their holdings of the company. CSM Advisors LLC purchased a new stake in shares of Kelly Services during the second quarter worth about $4,807,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Kelly Services in the 2nd quarter valued at approximately $727,000. Creative Planning boosted its stake in Kelly Services by 56.7% in the 2nd quarter. Creative Planning now owns 90,287 shares of the business services provider’s stock worth $1,057,000 after purchasing an additional 32,669 shares in the last quarter. LSV Asset Management grew its position in Kelly Services by 11.6% during the 2nd quarter. LSV Asset Management now owns 561,329 shares of the business services provider’s stock worth $6,573,000 after purchasing an additional 58,200 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kelly Services during the 2nd quarter worth approximately $1,349,000. 76.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Barrington Research dropped their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Zacks Research downgraded shares of Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.