Kelly Services, Inc. $KELYA Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400,351 shares of the business services provider’s stock after selling 87,174 shares during the period. Private Management Group Inc.’s holdings in Kelly Services were worth $22,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Kelly Services by 165.4% during the 3rd quarter. Signaturefd LLC now owns 1,754 shares of the business services provider’s stock worth $28,000 after acquiring an additional 1,093 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Kelly Services in the third quarter valued at about $41,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Kelly Services in the second quarter valued at about $45,000. GAMMA Investing LLC lifted its position in shares of Kelly Services by 19.9% during the second quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Crescent Grove Advisors LLC bought a new position in shares of Kelly Services during the first quarter valued at about $88,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Trading Down 1.4%

Shares of KELYA stock opened at $13.62 on Tuesday. The company has a 50 day moving average of $16.09 and a 200-day moving average of $12.66. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Kelly Services, Inc. has a 12-month low of $7.98 and a 12-month high of $17.75. The firm has a market cap of $473.02 million, a P/E ratio of 22.85, a PEG ratio of 1.18 and a beta of 0.93.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, November 5th. The business services provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%. The business had revenue of $927.20 million for the quarter, compared to the consensus estimate of $925.87 million. Sell-side analysts anticipate that Kelly Services, Inc. will post 1.04 earnings per share for the current year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be paid a $0.0750 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.30 annualized dividend and a dividend yield of 2.2%. Kelly Services’s payout ratio is presently -8.33%.

Analysts Set New Price Targets

Several research analysts recently weighed in on KELYA shares. Weiss Ratings upgraded shares of Kelly Services from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Wall Street Zen raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Barrington Research increased their price objective on shares of Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.00.

About Kelly Services

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting, and talent-management services to employers. The company helps organizations address temporary, contract, direct-hire, and outsourced workforce needs across a range of industries and skill levels.

Its offerings include professional and industrial staffing, office and administrative support, science and engineering talent, education staffing, contact-center solutions, and workforce outsourcing and consulting.