Christopher Layden Buys 10,100 Shares of Kelly Services (NASDAQ:KELYA) Stock

Kelly Services, Inc. (NASDAQ:KELYA) CEO Christopher Layden acquired 10,100 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average cost of $8.80 per share, with a total value of $88,880.00. Following the acquisition, the chief executive officer owned 382,513 shares of the company’s stock, valued at $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Kelly Services Stock Down 0.1%

KELYA stock opened at $8.90 on Friday. The firm has a market cap of $304.47 million, a price-to-earnings ratio of -1.22, a PEG ratio of 0.65 and a beta of 0.79. Kelly Services, Inc. has a 1-year low of $7.98 and a 1-year high of $14.94. The firm has a fifty day moving average price of $9.63 and a two-hundred day moving average price of $10.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Research analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, February 25th. Kelly Services’s payout ratio is presently -4.13%.

Wall Street Analysts Forecast Growth

KELYA has been the topic of a number of research reports. Barrington Research dropped their price target on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Zacks Research lowered Kelly Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Kelly Services has an average rating of “Hold” and an average target price of $15.00.

Institutional Trading of Kelly Services

A number of hedge funds and other institutional investors have recently made changes to their positions in KELYA. Quarry LP lifted its stake in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,249 shares during the period. Versant Capital Management Inc increased its stake in shares of Kelly Services by 52.0% during 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. GAMMA Investing LLC raised its holdings in Kelly Services by 175.4% during the third quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock worth $44,000 after purchasing an additional 2,156 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Kelly Services in the fourth quarter worth approximately $30,000. Finally, Tower Research Capital LLC TRC lifted its position in Kelly Services by 83.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares during the period. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Company Profile

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.