Foundry Partners LLC purchased a new stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,325 shares of the business services provider’s stock, valued at approximately $392,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of Kelly Services by 384.8% during the second quarter. Sei Investments Co. now owns 5,759 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 4,571 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Kelly Services during the second quarter valued at approximately $161,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Kelly Services during the second quarter valued at approximately $186,000. Paloma Partners Management Co purchased a new stake in shares of Kelly Services during the second quarter valued at approximately $219,000. Finally, SG Americas Securities LLC boosted its stake in shares of Kelly Services by 210.1% during the second quarter. SG Americas Securities LLC now owns 10,945 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 7,416 shares during the period. Hedge funds and other institutional investors own 66.21% of the company’s stock.
Shares of Kelly Services stock opened at $24.80 on Wednesday. The company has a market cap of $949.90 million, a P/E ratio of 11.27 and a beta of 0.79. Kelly Services, Inc. has a 52 week low of $21.44 and a 52 week high of $32.31.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, August 8th. The business services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. Kelly Services had a return on equity of 7.62% and a net margin of 0.99%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, research analysts expect that Kelly Services, Inc. will post 2.1 EPS for the current year.
A number of analysts have recently weighed in on KELYA shares. ValuEngine raised Kelly Services from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub lowered Kelly Services from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. Sidoti began coverage on Kelly Services in a report on Friday, August 24th. They set a “buy” rating and a $37.00 target price for the company. Finally, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.50.
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About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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