38,381 Shares in Kelly Services, Inc. (NASDAQ:KELYA) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new position in Kelly Services, Inc. (NASDAQ:KELYA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,381 shares of the business services provider’s stock, valued at approximately $535,000.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Kelly Services by 109.1% in the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after acquiring an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after acquiring an additional 1,406 shares during the period. Palouse Capital Management Inc. grew its position in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock valued at $114,000 after buying an additional 950 shares during the period. Entropy Technologies LP purchased a new stake in shares of Kelly Services during the 4th quarter worth approximately $153,000. Finally, AXQ Capital LP bought a new position in Kelly Services during the fourth quarter valued at $154,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

KELYA has been the subject of a number of research reports. StockNews.com upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Monday. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Kelly Services in a report on Tuesday, February 18th.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $12.30 on Friday. Kelly Services, Inc. has a one year low of $10.80 and a one year high of $23.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $429.12 million, a price-to-earnings ratio of -204.97, a PEG ratio of 0.43 and a beta of 0.96. The company’s fifty day moving average price is $12.23 and its 200-day moving average price is $13.72.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. On average, equities research analysts anticipate that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.44%. Kelly Services’s payout ratio is -50.00%.

Kelly Services 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.