Insider Buying: Kelly Services (NASDAQ:KELYA) Director Buys $94,300.00 in Stock

Kelly Services, Inc. (NASDAQ:KELYA) Director James Christopher Hunt purchased 10,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $9.43 per share, with a total value of $94,300.00. Following the completion of the acquisition, the director directly owned 25,976 shares of the company’s stock, valued at approximately $244,953.68. This represents a 62.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

James Christopher Hunt also recently made the following trade(s):

• On Wednesday, February 25th, James Christopher Hunt acquired 4,000 shares of Kelly Services stock. The shares were purchased at an average price of $9.30 per share, for a total transaction of $37,200.00.
• On Friday, February 20th, James Christopher Hunt bought 10,000 shares of Kelly Services stock. The stock was purchased at an average cost of $9.57 per share, with a total value of $95,700.00.
• On Wednesday, February 18th, James Christopher Hunt bought 1,000 shares of Kelly Services stock. The stock was purchased at an average price of $9.58 per share, with a total value of $9,580.00.

Kelly Services Stock Performance

NASDAQ:KELYA opened at $9.71 on Friday. The stock has a market cap of $332.18 million, a P/E ratio of -1.34, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $9.69 and its 200-day moving average is $10.99. Kelly Services, Inc. has a 1-year low of $7.98 and a 1-year high of $14.94.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.29). Kelly Services had a negative net margin of 5.98% and a positive return on equity of 4.05%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts anticipate that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, February 25th. Kelly Services’s payout ratio is -4.13%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KELYA shares. Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Zacks Research cut Kelly Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Barrington Research lowered their price target on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

Institutional Investors Weigh In On Kelly Services

A number of hedge funds have recently added to or reduced their stakes in KELYA. Quarry LP lifted its stake in Kelly Services by 173.2% in the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,249 shares during the period. Versant Capital Management Inc increased its stake in shares of Kelly Services by 52.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,028 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Kelly Services by 175.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 2,156 shares during the period. CANADA LIFE ASSURANCE Co acquired a new position in shares of Kelly Services during the 4th quarter valued at $30,000. Finally, Tower Research Capital LLC TRC boosted its stake in Kelly Services by 83.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after acquiring an additional 1,967 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.