State Board of Administration of Florida Retirement System lowered its stake in Kelly Services Inc. (NASDAQ:KELYA) by 7.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,226 shares of the company’s stock after selling 2,749 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Kelly Services worth $630,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in KELYA. DIAM Co. Ltd. acquired a new position in shares of Kelly Services during the second quarter valued at approximately $139,000. Emerald Acquisition Ltd. acquired a new position in shares of Kelly Services during the second quarter valued at approximately $1,617,000. KBC Group NV acquired a new position in shares of Kelly Services during the second quarter valued at approximately $278,000. Swiss National Bank boosted its position in shares of Kelly Services by 7.1% in the second quarter. Swiss National Bank now owns 53,000 shares of the company’s stock valued at $1,005,000 after buying an additional 3,500 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in shares of Kelly Services by 0.3% in the second quarter. Suntrust Banks Inc. now owns 133,458 shares of the company’s stock valued at $2,530,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.
Shares of Kelly Services Inc. (NASDAQ:KELYA) traded up 0.26% during mid-day trading on Monday, reaching $19.27. 33,003 shares of the company’s stock were exchanged. Kelly Services Inc. has a 52-week low of $13.82 and a 52-week high of $20.98. The company has a market cap of $734.05 million, a PE ratio of 11.85 and a beta of 1.75. The company’s 50-day moving average price is $19.08 and its 200 day moving average price is $19.19.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.02. The company earned $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities research analysts predict that Kelly Services Inc. will post $1.57 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Friday, August 19th.
In other Kelly Services news, Director Conrad L. Mallett, Jr. sold 1,792 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $19.55, for a total transaction of $35,033.60. Following the completion of the sale, the director now owns 14,351 shares in the company, valued at approximately $280,562.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Shelby Armstrong sold 18,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $19.36, for a total transaction of $348,480.00. Following the sale, the insider now owns 42,335 shares of the company’s stock, valued at approximately $819,605.60. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by insiders.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).
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