Squarepoint Ops LLC Boosts Holdings in Kelly Services, Inc. $KELYA

Squarepoint Ops LLC boosted its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 123.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,808 shares of the business services provider’s stock after acquiring an additional 106,100 shares during the period. Squarepoint Ops LLC owned about 0.54% of Kelly Services worth $2,246,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in shares of Kelly Services by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,949 shares of the business services provider’s stock worth $140,000 after purchasing an additional 905 shares during the last quarter. Man Group plc grew its holdings in Kelly Services by 6.6% during the 2nd quarter. Man Group plc now owns 24,780 shares of the business services provider’s stock valued at $290,000 after buying an additional 1,532 shares during the last quarter. Tower Research Capital LLC TRC increased 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 worth $51,000 after buying an additional 1,967 shares in the last quarter. Cetera Investment Advisers raised its stake in Kelly Services by 22.0% in the 1st quarter. Cetera Investment Advisers now owns 13,877 shares of the business services provider’s stock valued at $183,000 after purchasing an additional 2,507 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Kelly Services by 4.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 63,755 shares of the business services provider’s stock valued at $747,000 after buying an additional 2,550 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KELYA. Zacks Research lowered Kelly Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Barrington Research dropped their price objective on shares of Kelly Services from $25.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. UBS Group reiterated an “outperform” rating on shares of Kelly Services in a report on Friday, September 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Kelly Services presently has an average rating of “Hold” and a consensus target price of $16.00.

Insiders Place Their Bets

In other Kelly Services news, SVP Daniel H. Malan sold 7,840 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $12.86, for a total transaction of $100,822.40. Following the transaction, the senior vice president owned 79,791 shares in the company, valued at $1,026,112.26. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nicola M. Soares sold 27,412 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $13.43, for a total value of $368,143.16. Following the completion of the sale, the senior vice president owned 40,134 shares of the company’s stock, valued at approximately $538,999.62. This trade represents a 40.58% decrease in their position. The SEC filing for this sale provides additional information. 48.09% of the stock is currently owned by corporate insiders.

Kelly Services Stock Up 0.2%

Shares of NASDAQ:KELYA opened at $9.07 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. Kelly Services, Inc. has a 1 year low of $7.98 and a 1 year high of $15.11. The stock has a market capitalization of $320.53 million, a P/E ratio of -2.02, a PEG ratio of 0.44 and a beta of 0.79. The stock has a 50-day simple moving average of $9.99 and a 200-day simple moving average of $11.91.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Kelly Services had a negative net margin of 3.58% and a positive return on equity of 5.74%. The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $972.80 million. Equities analysts forecast that Kelly Services, Inc. will post 2.45 earnings per share for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.30 annualized dividend and a dividend yield of 3.3%. Kelly Services’s payout ratio is presently -6.70%.

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.