Kelly Services (NASDAQ:KELYA) Share Price Passes Above Two Hundred Day Moving Average After Earnings Miss

Kelly Services, Inc. (NASDAQ:KELYA) crossed above its 200-day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a 200-day moving average of $9.48 and traded as high as $9.95. Kelly Services shares last traded at $9.70, with a volume of 745,137 shares.

The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, February 25th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.1%. Kelly Services’s payout ratio is -4.13%.

Wall Street Analyst Weigh In

KELYA has been the topic of a number of research analyst reports. Zacks Research upgraded Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Barrington Research cut 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. Wall Street Zen raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kelly Services has an average rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling at Kelly Services

In other news, Director James Christopher Hunt acquired 10,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were bought at an average cost of $9.43 per share, with a total value of $94,300.00. Following the purchase, the director owned 25,976 shares of the company’s stock, valued at $244,953.68. This represents a 62.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher D. Layden acquired 10,100 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was purchased at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the completion of the purchase, the chief executive officer directly owned 382,513 shares in the company, valued at $3,366,114.40. This trade represents a 2.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 35,200 shares of company stock worth $327,137 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kelly Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. increased its stake in Kelly Services by 101.8% in the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after purchasing an additional 640,076 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kelly Services by 39.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock valued at $16,798,000 after purchasing an additional 544,309 shares in the last quarter. Millennium Management LLC increased its stake in Kelly Services by 594.2% in the 4th quarter. Millennium Management LLC now owns 623,723 shares of the business services provider’s stock valued at $5,489,000 after purchasing an additional 533,873 shares in the last quarter. Fifth Third Bancorp purchased a new position in Kelly Services in the 1st quarter valued at approximately $4,371,000. Finally, JPMorgan Chase & Co. increased its stake in Kelly Services by 1,328.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock valued at $5,408,000 after purchasing an additional 383,357 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Stock Down 0.9%

The stock has a market capitalization of $331.84 million, a PE ratio of -1.33, a P/E/G ratio of 0.72 and a beta of 0.79. The firm has a 50 day moving average of $9.11 and a two-hundred day moving average of $9.48. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10.

Kelly Services Company Profile

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.