ARGA Investment Management LP Has $447,000 Stake in Kelly Services, Inc. $KELYA

ARGA Investment Management LP lowered its holdings in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 68.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,037 shares of the business services provider’s stock after selling 72,366 shares during the period. ARGA Investment Management LP’s holdings in Kelly Services were worth $447,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KELYA. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kelly Services by 149.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 32,133 shares of the business services provider’s stock worth $410,000 after purchasing an additional 19,263 shares during the last quarter. Bfsg LLC bought a new position in shares of Kelly Services during the 3rd quarter worth about $78,000. Versant Capital Management Inc grew its stake in Kelly Services by 52.0% in the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,028 shares during the period. SG Americas Securities LLC acquired a new stake in Kelly Services in the 3rd quarter valued at $158,000. Finally, CWM LLC grew its holdings in shares of Kelly Services by 57.5% during the third quarter. CWM LLC now owns 97,801 shares of the business services provider’s stock valued at $1,283,000 after buying an additional 35,698 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Barrington Research reduced 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Kelly Services Trading Down 1.4%

NASDAQ KELYA opened at $10.22 on Friday. The firm has a market capitalization of $361.17 million, a PE ratio of -2.28, a P/E/G ratio of 0.46 and a beta of 0.79. The stock’s 50 day moving average is $8.98 and its 200 day moving average is $11.45. Kelly Services, Inc. has a twelve month low of $7.98 and a twelve month high of $15.11. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data 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). The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $972.80 million. Kelly Services had a negative net margin of 3.58% and a positive return on equity of 5.74%. Research analysts forecast that Kelly Services, Inc. will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.30 annualized dividend and a yield of 2.9%. Kelly Services’s payout ratio is presently -6.70%.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.