HighTower Advisors LLC Acquires New Position in Kelly Services, Inc. (NASDAQ:KELYA)

HighTower Advisors LLC bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,604 shares of the business services provider’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Foundry Partners LLC increased its holdings in Kelly Services by 21.7% during the 2nd quarter. Foundry Partners LLC now owns 183,690 shares of the business services provider’s stock valued at $3,933,000 after acquiring an additional 32,770 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 purchasing an additional 221,271 shares in the last quarter. American Century Companies Inc. raised its position in shares of Kelly Services by 35.9% during 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 during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Kelly Services in the 3rd quarter valued at approximately $2,122,000. Finally, LSV Asset Management grew its holdings in Kelly Services by 5.2% during the 2nd quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after buying an additional 30,300 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Price Performance

Shares of NASDAQ KELYA opened at $13.01 on Thursday. 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 1-year low of $12.68 and a 1-year high of $25.27. The company has a market capitalization of $463.29 million, a price-to-earnings ratio of 11.31, a PEG ratio of 0.56 and a beta of 1.13. The business has a 50-day moving average of $16.29 and a 200-day moving average of $19.44.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Wednesday, November 20th. Kelly Services’s payout ratio is currently 26.09%.

Insider Buying and Selling

In other news, SVP Daniel H. Malan acquired 3,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the purchase, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. This represents a 3.79 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research cut 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, November 18th.

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.