Daniel H. Malan Acquires 3,500 Shares of Kelly Services, Inc. (NASDAQ:KELYA) Stock

Kelly Services, Inc. (NASDAQ:KELYA) SVP Daniel H. Malan bought 3,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the acquisition, the senior vice president now directly owns 95,906 shares in the company, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kelly Services Stock Down 0.9 %

NASDAQ KELYA traded down $0.12 on Wednesday, hitting $13.96. 351,108 shares of the company were exchanged, compared to its average volume of 231,032. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market cap of $497.12 million, a PE ratio of 12.14, a PEG ratio of 0.54 and a beta of 1.20. The stock has a fifty day moving average of $19.56 and a 200-day moving average of $20.85. Kelly Services, Inc. has a 12 month low of $13.75 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. Kelly Services’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, analysts forecast that Kelly Services, Inc. will post 2.07 earnings per share for the current year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. Kelly Services’s dividend payout ratio is currently 26.09%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KELYA. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research decreased their target price on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday.

Institutional Trading of Kelly Services

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Kelly Services during the 2nd quarter valued at approximately $30,000. Innealta Capital LLC purchased a new position in Kelly Services in the 2nd quarter worth approximately $39,000. nVerses Capital LLC bought a new stake in Kelly Services in the 2nd quarter worth $47,000. Meeder Asset Management Inc. purchased a new position in shares of Kelly Services in the second quarter valued at about $51,000. Finally, SG Americas Securities LLC bought a new position in shares of Kelly Services during the first quarter valued at about $125,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

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.