Quarry LP Sells 1,386 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Quarry LP reduced its position in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 40.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the business services provider’s stock after selling 1,386 shares during the quarter. Quarry LP’s holdings in Kelly Services were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services in the 2nd quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Kelly Services during the 2nd quarter worth about $39,000. nVerses Capital LLC bought a new stake in shares of Kelly Services in the 2nd quarter valued at about $47,000. Meeder Asset Management Inc. bought a new stake in Kelly Services in the second quarter valued at approximately $51,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kelly Services in the 1st quarter valued at $125,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ KELYA opened at $20.60 on Friday. The company has a fifty day moving average price of $20.93 and a 200 day moving average price of $22.07. Kelly Services, Inc. has a 1-year low of $17.40 and a 1-year high of $25.27. The firm has a market cap of $731.75 million, a PE ratio of 14.82, a PEG ratio of 0.65 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. Kelly Services’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. Research analysts predict that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, August 21st. Kelly Services’s payout ratio is 21.58%.

Wall Street Analysts Forecast Growth

KELYA has been the topic of several recent analyst reports. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $29.00 price objective on shares of Kelly Services in a research report on Friday, September 27th.

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.