Mangrove Partners IM LLC Acquires New Shares in Kelly Services, Inc. $KELYA

Mangrove Partners IM LLC acquired a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,304 shares of the business services provider’s stock, valued at approximately $619,000. Mangrove Partners IM LLC owned about 0.20% of Kelly Services at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted 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 valued at $26,000 after purchasing an additional 1,249 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Kelly Services during the fourth quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services during the fourth quarter valued at $42,000. Tower Research Capital LLC TRC boosted 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 valued at $51,000 after purchasing an additional 1,967 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted 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 valued at $63,000 after purchasing an additional 5,341 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Price Performance

NASDAQ KELYA opened at $11.45 on Wednesday. Kelly Services, Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $14.94. The stock’s 50-day moving average is $10.25 and its two-hundred day moving average is $9.63. 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 firm has a market cap of $396.97 million, a P/E ratio of -1.51, a price-to-earnings-growth ratio of 0.88 and a beta of 0.85.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The company had revenue of $1.04 billion for 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 anticipate that Kelly Services, Inc. will post 1.01 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were paid a $0.075 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.6%. Kelly Services’s payout ratio is presently -3.95%.

Analyst Ratings Changes

A number of research firms recently issued reports on KELYA. Weiss Ratings cut Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

Insider Transactions at Kelly Services

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

Kelly Services Company 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.