JB Capital Partners LP Has $1.82 Million Stock Position in Kelly Services, Inc. $KELYA

JB Capital Partners LP lifted its position in Kelly Services, Inc. (NASDAQ:KELYA) by 76.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,160 shares of the business services provider’s stock after buying an additional 89,674 shares during the quarter. JB Capital Partners LP owned about 0.59% of Kelly Services worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP increased its position in Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,249 shares during the period. Meeder Asset Management Inc. bought a new position in Kelly Services during the fourth quarter worth $42,000. Tower Research Capital LLC TRC increased its position 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 during the period. State of Alaska Department of Revenue increased its position in Kelly Services by 284.2% during the fourth quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock worth $63,000 after acquiring an additional 5,341 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Kelly Services by 46.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock worth $65,000 after acquiring an additional 1,577 shares during the period. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $12.04 on Friday. The firm has a market capitalization of $417.43 million, a PE ratio of -1.58, a price-to-earnings-growth ratio of 0.91 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The company’s fifty day moving average price is $10.14 and its two-hundred day moving average price is $9.58. Kelly Services, Inc. has a 52-week low of $7.98 and a 52-week high of $14.94.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. On average, analysts expect that Kelly Services, Inc. will post 1.01 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s payout ratio is -3.95%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the sale, the executive vice president owned 82,355 shares of the company’s stock, valued at $805,431.90. The trade was a 26.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher D. Layden purchased 10,100 shares of the stock in a transaction on Tuesday, March 24th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the acquisition, the chief executive officer directly owned 382,513 shares in the company, valued at approximately $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

KELYA has been the topic of a number of research reports. Weiss Ratings lowered shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Barrington Research dropped their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kelly Services has a consensus rating of “Hold” and a consensus target price of $15.00.

Kelly Services Profile

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.