Insider Buying: Kelly Services, Inc. (NASDAQ:KELYA) SVP Purchases 3,500 Shares of Stock

Kelly Services, Inc. (NASDAQ:KELYA) SVP Daniel H. Malan purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Kelly Services Stock Performance

Kelly Services stock traded down $0.12 during mid-day trading on Wednesday, hitting $13.96. 351,108 shares of the company’s stock traded hands, compared to its average volume of 231,032. The stock has a market cap of $497.12 million, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. Kelly Services, Inc. has a fifty-two week low of $13.75 and a fifty-two week high of $25.27. The firm has a 50 day simple moving average of $19.56 and a two-hundred day simple moving average of $20.85.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. On average, research analysts expect that Kelly Services, Inc. will post 2.07 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.15%. Kelly Services’s dividend payout ratio is 26.09%.

Hedge Funds Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently made changes to their positions in KELYA. Boston Partners acquired a new stake in Kelly Services in the first quarter valued at approximately $18,618,000. Pacer Advisors Inc. boosted its holdings in shares of Kelly Services by 45.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after acquiring an additional 380,035 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Kelly Services by 1,730.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock worth $5,011,000 after acquiring an additional 221,271 shares during the last quarter. American Century Companies Inc. increased its holdings in Kelly Services by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after purchasing an additional 180,238 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Kelly Services by 178.3% in the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock valued at $3,331,000 after purchasing an additional 99,699 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KELYA has been the subject of several analyst reports. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research decreased their price objective on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday.

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.