Alpine Global Management LLC Purchases New Shares in Kelly Services, Inc. (NASDAQ:KELYA)

Alpine Global Management LLC purchased a new stake in Kelly Services, Inc. (NASDAQ:KELYA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,212 shares of the business services provider’s stock, valued at approximately $198,000.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kelly Services by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,786 shares of the business services provider’s stock worth $248,000 after buying an additional 760 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Kelly Services by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock worth $521,000 after buying an additional 945 shares in the last quarter. Palouse Capital Management Inc. grew its stake 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 worth $114,000 after buying an additional 950 shares in the last quarter. Federated Hermes Inc. grew its stake in Kelly Services by 9.6% during the fourth quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider’s stock worth $171,000 after buying an additional 1,076 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake 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 buying an additional 1,406 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Stock Down 1.5%

KELYA stock opened at $11.67 on Friday. The stock has a market capitalization of $407.14 million, a P/E ratio of -194.47, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. 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, Inc. has a 12 month low of $10.80 and a 12 month high of $23.81. The firm has a 50-day moving average price of $12.11 and a 200-day moving average price of $13.39.

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

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a $0.075 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 2.57%. Kelly Services’s dividend payout ratio (DPR) is presently -50.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of Kelly Services in a research note on Tuesday. Wall Street Zen cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday.

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.