Entropy Technologies LP Makes New Investment in Kelly Services, Inc. (NASDAQ:KELYA)

Entropy Technologies LP bought a new position in shares of Kelly Services, Inc. (NASDAQ:KELYA) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,011 shares of the business services provider’s stock, valued at approximately $153,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Kelly Services in the third quarter valued at about $196,000. Exchange Traded Concepts LLC bought a new stake in shares of Kelly Services in the third quarter valued at about $781,000. Creative Planning bought a new stake in shares of Kelly Services in the third quarter valued at about $203,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Kelly Services by 1,730.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 221,271 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Kelly Services by 9.3% in the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 866 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Kelly Services in a report on Wednesday.

Kelly Services Price Performance

NASDAQ:KELYA opened at $14.14 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $17.41. The company has a market cap of $503.53 million, a P/E ratio of 12.30, a P/E/G ratio of 0.40 and a beta of 1.11. Kelly Services, Inc. has a 52-week low of $12.68 and a 52-week high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.38. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 26th. Kelly Services’s dividend payout ratio is currently 26.09%.

Insider Activity at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the transaction, the senior vice president now directly owns 95,906 shares in the company, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is owned by company insiders.

Kelly Services Company 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.