Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Up 10.7% in January

Kelly Services, Inc. (NASDAQ:KELYA) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 635,200 shares, a growth of 10.7% from the January 15th total of 573,700 shares. Based on an average daily volume of 617,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 2.1% of the company’s shares are sold short.

Insider Activity

In related news, SVP Daniel H. Malan acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Kelly Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Kelly Services by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,883 shares in the last quarter. KBC Group NV grew its stake 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 valued at $54,000 after buying an additional 2,028 shares during the period. Parkside Financial Bank & Trust increased its position in Kelly Services by 49.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock valued at $60,000 after buying an additional 1,406 shares in the last quarter. Palouse Capital Management Inc. increased its position in Kelly Services by 13.1% in 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Kelly Services by 3,062.7% during the 4th 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 period. Institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Down 0.8 %

Kelly Services stock traded down $0.11 during mid-day trading on Monday, hitting $14.14. 374,805 shares of the stock were exchanged, compared to its average volume of 261,028. The stock has a market capitalization of $503.53 million, a price-to-earnings ratio of 12.30, a PEG ratio of 0.40 and a beta of 1.11. Kelly Services has a 12 month low of $12.68 and a 12 month high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $13.80 and its two-hundred day simple moving average is $17.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.38. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. Analysts forecast that Kelly Services will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, February 26th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of Kelly Services in a research note on Wednesday, February 12th.

About Kelly Services

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.