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

Key Points

  • CEO Christopher Layden purchased 10,100 shares at an average price of $8.80 on March 24, raising his stake to 382,513 shares (a 2.71% increase) valued at about $3.37 million, as disclosed in an SEC filing.
  • Kelly Services recently missed quarterly EPS ($0.16 vs. $0.45 consensus) and reported a negative net margin of 5.98%; the company trades with a market cap of roughly $305 million and carries an average analyst rating of Hold with a $15 consensus target.
  • The firm pays a quarterly dividend of $0.075 (annualized $0.30, ~3.4% yield), and institutional investors own about 76.3% of the stock, while the share price sits below its 50- and 200-day moving averages.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) CEO Christopher Layden acquired 10,100 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average price of $8.80 per share, with a total value of $88,880.00. Following the transaction, the chief executive officer owned 382,513 shares in the company, valued at $3,366,114.40. This represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $8.91 on Thursday. The stock's fifty day simple moving average is $9.66 and its 200 day simple moving average is $10.30. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $304.81 million, a PE ratio of -1.23, a PEG ratio of 0.63 and a beta of 0.79. Kelly Services, Inc. has a 12 month low of $7.98 and a 12 month high of $14.94.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its 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 negative net margin of 5.98% and a positive return on equity of 4.05%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. On average, research analysts predict that Kelly Services, Inc. will post 2.45 EPS for the current year.

Kelly Services Dividend Announcement




The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, February 25th. Kelly Services's payout ratio is -4.13%.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on KELYA

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Kelly Services by 24.3% during the first quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider's stock worth $4,916,000 after buying an additional 73,040 shares in the last quarter. Millennium Management LLC lifted its stake in Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider's stock valued at $15,649,000 after acquiring an additional 93,026 shares in the last quarter. Empowered Funds LLC lifted its stake in Kelly Services by 4.2% in the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider's stock valued at $2,829,000 after acquiring an additional 8,562 shares in the last quarter. Geode Capital Management LLC boosted its position in Kelly Services by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 784,978 shares of the business services provider's stock worth $9,194,000 after acquiring an additional 11,397 shares during the last quarter. Finally, Creative Planning boosted its position in Kelly Services by 56.7% during the 2nd quarter. Creative Planning now owns 90,287 shares of the business services provider's stock worth $1,057,000 after acquiring an additional 32,669 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Company Profile

(Get Free Report)

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.

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