AXQ Capital LP Makes New Investment in Kelly Services, Inc. (NASDAQ:KELYA)

AXQ Capital LP acquired a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 11,025 shares of the business services provider’s stock, valued at approximately $154,000.

Several other hedge funds also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its position in shares of 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 purchasing an additional 945 shares during the period. Palouse Capital Management Inc. increased its stake 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 worth $114,000 after purchasing an additional 950 shares in the last quarter. Parkside Financial Bank & Trust raised 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 buying an additional 1,406 shares during the period. Victory Capital Management Inc. lifted its stake in Kelly Services by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 32,611 shares of the business services provider’s stock valued at $455,000 after buying an additional 1,411 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of 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 worth $33,000 after buying an additional 1,883 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Stock Performance

Shares of KELYA stock opened at $13.49 on Tuesday. The company has a market capitalization of $470.64 million, a price-to-earnings ratio of -224.80, a P/E/G ratio of 0.43 and a beta of 1.13. Kelly Services, Inc. has a 1-year low of $12.66 and a 1-year high of $25.16. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $16.00.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.38. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. On average, sell-side analysts predict that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, February 26th. Kelly Services’s dividend payout ratio (DPR) is currently -500.00%.

Analyst Ratings Changes

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

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.