Kelly Services, Inc. (NASDAQ:KELYA) Short Interest Up 15.7% in September

Kelly Services, Inc. (NASDAQ:KELYA) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 764,600 shares, a growth of 15.7% from the September 15th total of 661,000 shares. Based on an average daily volume of 209,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.5% of the shares of the stock are short sold.

Kelly Services Stock Performance

Shares of NASDAQ:KELYA traded up $0.48 during trading on Wednesday, reaching $20.80. The stock had a trading volume of 6,159 shares, compared to its average volume of 227,394. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $20.66 and a two-hundred day simple moving average of $21.88. The firm has a market capitalization of $738.86 million, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.63 and a beta of 1.19. Kelly Services has a 52 week low of $17.40 and a 52 week high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The business’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, analysts anticipate that Kelly Services will post 2.49 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, August 21st. Kelly Services’s dividend payout ratio (DPR) is currently 21.58%.

Hedge Funds Weigh In On Kelly Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its position in Kelly Services by 73.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock valued at $1,488,000 after buying an additional 25,219 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Kelly Services by 75.3% during the first quarter. Foundry Partners LLC now owns 150,920 shares of the business services provider’s stock worth $3,779,000 after buying an additional 64,820 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of Kelly Services in the first quarter valued at about $1,434,000. Boston Partners bought a new position in Kelly Services during the first quarter worth about $18,618,000. Finally, Assenagon Asset Management S.A. raised its stake in Kelly Services by 178.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock worth $3,331,000 after purchasing an additional 99,699 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.

Analysts Set New Price Targets

KELYA has been the subject of several research reports. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a report on Friday, September 27th.

Kelly Services Company 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.