Daniel H. Malan Acquires 3,500 Shares of Kelly Services, Inc. (NASDAQ:KELYA) Stock

Kelly Services, Inc. (NASDAQ:KELYA) SVP Daniel H. Malan bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, for a total transaction 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 $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kelly Services Stock Down 0.3 %

Shares of NASDAQ KELYA opened at $13.92 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $19.56 and its 200 day simple moving average is $20.85. Kelly Services, Inc. has a 12-month low of $13.71 and a 12-month high of $25.27. The firm has a market cap of $495.69 million, a PE ratio of 12.10, a P/E/G ratio of 0.53 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 2.07 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued 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 2.16%. Kelly Services’s payout ratio is 26.09%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research cut their target price on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KELYA. O Shaughnessy Asset Management LLC raised its holdings in shares of Kelly Services by 73.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock valued at $1,488,000 after purchasing an additional 25,219 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of Kelly Services by 21.7% in the second quarter. Foundry Partners LLC now owns 183,690 shares of the business services provider’s stock valued at $3,933,000 after purchasing an additional 32,770 shares during the last quarter. Boston Partners purchased a new stake in shares of Kelly Services in the first quarter valued at about $18,618,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Kelly Services by 1,730.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.