Centiva Capital LP Decreases Stake in Kelly Services, Inc. (NASDAQ:KELYA)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in KELYA. Price T Rowe Associates Inc. MD purchased a new position in shares of Kelly Services in the first quarter worth $225,000. Assenagon Asset Management S.A. increased its stake in shares of Kelly Services by 178.3% in the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock worth $3,331,000 after acquiring an additional 99,699 shares during the period. Bailard Inc. raised its holdings in shares of Kelly Services by 6.9% during the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock worth $233,000 after purchasing an additional 700 shares during the last quarter. Innealta Capital LLC acquired a new position in Kelly Services during the second quarter valued at $39,000. Finally, nVerses Capital LLC purchased a new stake in Kelly Services in the second quarter valued at $47,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Trading Down 1.5 %

Kelly Services stock opened at $14.49 on Wednesday. The firm has a market cap of $515.99 million, a PE ratio of 12.60, a P/E/G ratio of 0.57 and a beta of 1.13. Kelly Services, Inc. has a 12 month low of $13.71 and a 12 month high of $25.27. The stock’s 50 day simple moving average is $17.70 and its two-hundred day simple moving average is $20.04. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18.

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

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were issued 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 was Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Insider Buying and Selling

In related news, SVP Daniel H. Malan bought 3,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $13.88 per share, for a total transaction 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 trade represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reduced their price objective on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 18th.

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.