Millennium Management LLC Raises Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Millennium Management LLC boosted its holdings in Kelly Services, Inc. (NASDAQ:KELYA) by 2,251.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,095,238 shares of the business services provider’s stock after buying an additional 1,048,670 shares during the period. Millennium Management LLC’s holdings in Kelly Services were worth $15,268,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. ARGA Investment Management LP increased its stake in Kelly Services by 28.6% in the 4th quarter. ARGA Investment Management LP now owns 97,482 shares of the business services provider’s stock worth $1,359,000 after buying an additional 21,672 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Kelly Services by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock worth $521,000 after buying an additional 945 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Kelly Services in the 4th quarter worth $5,343,000. Proficio Capital Partners LLC purchased a new stake in Kelly Services in the 4th quarter worth $201,000. Finally, Entropy Technologies LP purchased a new stake in Kelly Services in the 4th quarter worth $153,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Down 0.1%

Shares of Kelly Services stock opened at $11.85 on Friday. The firm has a market cap of $413.42 million, a price-to-earnings ratio of -197.47, a PEG ratio of 0.43 and a beta of 0.96. The business has a 50-day moving average price of $12.14 and a 200-day moving average price of $13.45. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a twelve month low of $10.80 and a twelve month high of $23.81.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. Equities research analysts anticipate that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, May 19th. Kelly Services’s payout ratio is -50.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KELYA shares. Wall Street Zen lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of Kelly Services in a research report on Tuesday.

Kelly Services 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.