GAMMA Investing LLC Boosts Stake in Kelly Services, Inc. (NASDAQ:KELYA)

GAMMA Investing LLC raised its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 3,062.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,330 shares of the business services provider’s stock after acquiring an additional 9,035 shares during the quarter. GAMMA Investing LLC’s holdings in Kelly Services were worth $130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. grew its holdings in Kelly Services by 6.8% in the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after purchasing an additional 668 shares during the last quarter. US Bancorp DE boosted its position in shares of Kelly Services by 9.3% in the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after purchasing an additional 866 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Kelly Services during the 2nd quarter worth $30,000. Versant Capital Management Inc increased its position in Kelly Services by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,883 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Kelly Services by 9.3% in the third quarter. Franklin Resources Inc. now owns 22,362 shares of the business services provider’s stock valued at $456,000 after buying an additional 1,905 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Trading Down 0.6 %

Shares of NASDAQ:KELYA opened at $13.82 on Friday. 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 $12.68 and a 52-week high of $25.27. The stock has a market cap of $492.13 million, a price-to-earnings ratio of 12.02, a PEG ratio of 0.55 and a beta of 1.12. The business has a 50-day moving average price of $14.91 and a 200-day moving average price of $18.87.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. Equities analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a $0.075 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.17%. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

Separately, Barrington Research decreased their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 18th.

Insiders Place Their Bets

In related news, SVP Daniel H. Malan purchased 3,500 shares of Kelly Services stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $13.88 per share, with a total value of $48,580.00. Following the purchase, the senior vice president now owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.90% of the company’s stock.

Kelly Services Company 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.