Mason Street Advisors LLC purchased a new stake in Kelly Services Inc. (NASDAQ:KELYA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,814 shares of the company’s stock, valued at approximately $110,000.
A number of other hedge funds have also recently bought and sold shares of KELYA. Advisor Group Inc. bought a new position in shares of Kelly Services during the second quarter valued at $116,000. Springbok Capital Management LLC raised its position in shares of Kelly Services by 272.5% in the first quarter. Springbok Capital Management LLC now owns 6,996 shares of the company’s stock valued at $134,000 after buying an additional 5,118 shares during the last quarter. DIAM Co. Ltd. bought a new position in shares of Kelly Services during the second quarter valued at $139,000. Bank of Montreal Can bought a new position in shares of Kelly Services during the second quarter valued at $153,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Kelly Services by 109.3% in the second quarter. BNP Paribas Arbitrage SA now owns 9,272 shares of the company’s stock valued at $176,000 after buying an additional 4,842 shares during the last quarter. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Kelly Services Inc. (NASDAQ:KELYA) opened at 18.79 on Tuesday. The company has a 50 day moving average of $19.01 and a 200 day moving average of $19.30. Kelly Services Inc. has a 1-year low of $14.35 and a 1-year high of $20.98. The firm has a market capitalization of $715.77 million, a P/E ratio of 11.56 and a beta of 1.75.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.02. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. The business earned $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $0.18 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Kelly Services Inc. will post $1.57 earnings per share for the current year.
Separately, Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th.
In other Kelly Services news, insider Steven Shelby Armstrong sold 18,000 shares of Kelly Services stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $19.36, for a total transaction of $348,480.00. Following the transaction, the insider now directly owns 42,335 shares of the company’s stock, valued at approximately $819,605.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter Quigley sold 13,179 shares of Kelly Services stock in a transaction on Friday, August 12th. The stock was sold at an average price of $19.23, for a total transaction of $253,432.17. Following the transaction, the senior vice president now directly owns 99,224 shares in the company, valued at $1,908,077.52. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by corporate insiders.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).