Kelly Services (NASDAQ:KELYA) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Kelly Services, Inc. (NASDAQ:KELYA)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.59 and traded as high as $15.76. Kelly Services shares last traded at $15.72, with a volume of 388,788 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KELYA shares. Weiss Ratings downgraded shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Barrington Research restated an “outperform” rating on shares of Kelly Services in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kelly Services presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Kelly Services Stock Up 3.7%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a fifty day simple moving average of $12.55 and a 200-day simple moving average of $10.59. The firm has a market cap of $545.01 million, a price-to-earnings ratio of -2.07, a P/E/G ratio of 1.15 and a beta of 0.84.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. As a group, sell-side analysts expect that Kelly Services, Inc. will post 1.01 EPS for the current year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. Kelly Services’s payout ratio is presently -3.95%.

Insider Buying and Selling

In related news, EVP Vanessa Peterson Williams sold 29,999 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the transaction, the executive vice president owned 82,355 shares in the company, valued at approximately $805,431.90. This represents a 26.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Kelly Services

Several hedge funds have recently bought and sold shares of KELYA. Quarry LP boosted its holdings in shares of Kelly Services by 173.2% during the third 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. CANADA LIFE ASSURANCE Co acquired a new position in shares of Kelly Services in the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new position in shares of Kelly Services during the fourth quarter worth approximately $42,000. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 1,967 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Kelly Services by 284.2% during the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock worth $63,000 after purchasing an additional 5,341 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

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.