Quantessence Capital LLC Takes $637,000 Position in Kelly Services, Inc. (NASDAQ:KELYA)

Quantessence Capital LLC purchased a new position in Kelly Services, Inc. (NASDAQ:KELYA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 45,721 shares of the business services provider’s stock, valued at approximately $637,000.

A number of other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake 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 worth $33,000 after buying an additional 1,883 shares during the period. KBC Group NV grew its stake in Kelly Services by 109.1% during the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 2,028 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Kelly Services by 49.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock worth $60,000 after purchasing an additional 1,406 shares during the last quarter. Palouse Capital Management Inc. boosted its stake in shares of Kelly Services by 13.1% during the 4th 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 last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Kelly Services by 3,062.7% in the fourth quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider’s stock worth $130,000 after buying an additional 9,035 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of Kelly Services in a research report on Tuesday, February 18th.

Kelly Services Price Performance

Shares of NASDAQ KELYA opened at $11.05 on Tuesday. The business has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $14.68. Kelly Services, Inc. has a twelve month low of $10.80 and a twelve month high of $24.25. The company has a market capitalization of $385.51 million, a price-to-earnings ratio of -184.14, a price-to-earnings-growth ratio of 0.43 and a beta of 1.03. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.44 by $0.38. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, equities research analysts expect that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s dividend payout ratio (DPR) is -500.00%.

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.