ClearAlpha Technologies LP Buys 2,458 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

ClearAlpha Technologies LP increased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,917 shares of the business services provider’s stock after purchasing an additional 2,458 shares during the period. ClearAlpha Technologies LP owned 0.05% of Kelly Services worth $405,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD acquired a new position in Kelly Services during the 1st quarter valued at about $225,000. CX Institutional boosted its stake in Kelly Services by 1.8% in the second quarter. CX Institutional now owns 140,583 shares of the business services provider’s stock valued at $3,010,000 after acquiring an additional 2,456 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Kelly Services by 178.3% during 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 acquiring an additional 99,699 shares during the period. Bailard Inc. lifted its stake in shares of Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 700 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Kelly Services in the 2nd quarter worth $39,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of Kelly Services stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the purchase, the senior vice president now directly owns 95,906 shares in the company, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KELYA shares. 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 price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 18th.

Kelly Services Price Performance

Shares of KELYA opened at $14.65 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $521.69 million, a PE ratio of 12.74, a P/E/G ratio of 0.58 and a beta of 1.20. The stock has a 50 day simple moving average of $18.63 and a 200 day simple moving average of $20.43. Kelly Services, Inc. has a 52-week low of $13.71 and a 52-week high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. Sell-side analysts predict that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. Kelly Services’s payout ratio is presently 26.09%.

About Kelly Services

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.