Martingale Asset Management L P Sells 68,786 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Martingale Asset Management L P reduced its position in Kelly Services, Inc. (NASDAQ:KELYA) by 74.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,500 shares of the business services provider’s stock after selling 68,786 shares during the quarter. Martingale Asset Management L P owned about 0.07% of Kelly Services worth $328,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Kelly Services by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 2,396 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,883 shares during the last quarter. KBC Group NV increased its position in shares of Kelly Services by 109.1% in the fourth quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock worth $54,000 after purchasing an additional 2,028 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Kelly Services by 49.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 1,406 shares in the last quarter. Palouse Capital Management Inc. lifted its position in Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 950 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Kelly Services by 3,062.7% in the 4th quarter. GAMMA Investing LLC now owns 9,330 shares of the business services provider’s stock worth $130,000 after buying an additional 9,035 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Kelly Services in a report on Tuesday, February 18th.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $11.50 on Monday. The firm has a market capitalization of $401.21 million, a PE ratio of -191.63, a price-to-earnings-growth ratio of 0.43 and a beta of 1.03. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services, Inc. has a 12 month low of $11.17 and a 12 month high of $24.25. The business’s 50-day moving average price is $13.14 and its 200-day moving average price is $15.10.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.38. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. Sell-side analysts forecast that Kelly Services, Inc. will post 2.45 EPS for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, February 26th. Kelly Services’s dividend payout ratio is presently -500.00%.

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.