Short Interest in Kelly Services, Inc. (NASDAQ:KELYA) Expands By 6.9%

Kelly Services, Inc. (NASDAQ:KELYA) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 602,700 shares, an increase of 6.9% from the October 15th total of 563,700 shares. Based on an average daily trading volume, of 154,100 shares, the short-interest ratio is currently 3.9 days. Currently, 2.0% of the company’s shares are sold short.

Kelly Services Price Performance

NASDAQ:KELYA opened at $20.80 on Friday. The firm has a market capitalization of $736.32 million, a P/E ratio of 32.00, a PEG ratio of 0.93 and a beta of 1.11. Kelly Services has a 1-year low of $15.07 and a 1-year high of $21.08. The company’s fifty day moving average price is $18.56 and its 200-day moving average price is $18.12.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.25. Kelly Services had a net margin of 0.50% and a return on equity of 4.32%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Kelly Services will post 1.69 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, November 21st. Kelly Services’s dividend payout ratio (DPR) is presently 46.15%.

Hedge Funds Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Kelly Services by 131.6% in the third quarter. Royal Bank of Canada now owns 2,121 shares of the business services provider’s stock valued at $29,000 after buying an additional 1,205 shares during the last quarter. UBS Group AG lifted its stake in Kelly Services by 7,115.6% in the second quarter. UBS Group AG now owns 2,309 shares of the business services provider’s stock worth $46,000 after acquiring an additional 2,277 shares during the last quarter. Quarry LP purchased a new stake in shares of Kelly Services during the 2nd quarter worth approximately $69,000. Quantbot Technologies LP purchased a new stake in shares of Kelly Services during the 2nd quarter worth approximately $73,000. Finally, Captrust Financial Advisors increased its holdings in shares of Kelly Services by 43.0% in the 1st quarter. Captrust Financial Advisors now owns 3,407 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 1,024 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KELYA has been the subject of several research reports. StockNews.com raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. TheStreet raised shares of Kelly Services from a “c” rating to a “b-” rating in a research report on Thursday, November 9th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Kelly Services in a research report on Wednesday.

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 placement services in the areas of office, professional, light industrial, and contact center specialties.