Centiva Capital LP Cuts Position in Kelly Services, Inc. (NASDAQ:KELYA)

Centiva Capital LP decreased its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,653 shares of the business services provider’s stock after selling 3,443 shares during the quarter. Centiva Capital LP’s holdings in Kelly Services were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in shares of Kelly Services by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after purchasing an additional 668 shares during the period. Bailard Inc. boosted its holdings in Kelly Services by 6.9% during the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 700 shares during the period. US Bancorp DE boosted its holdings in Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 866 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Kelly Services during the 2nd quarter valued at $30,000. Finally, Innealta Capital LLC purchased a new position in Kelly Services during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Insider Buying and Selling at Kelly Services

In related news, SVP Daniel H. Malan bought 3,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the purchase, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. This trade represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Barrington Research dropped their price objective on 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

KELYA opened at $14.49 on Wednesday. The business has a fifty day moving average of $17.70 and a 200 day moving average of $20.04. Kelly Services, Inc. has a 52-week low of $13.71 and a 52-week high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock has a market cap of $515.99 million, a P/E ratio of 12.60, a PEG ratio of 0.57 and a beta of 1.13.

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

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Kelly Services Profile

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.