Parametric Portfolio Associates LLC boosted its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 39.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,759 shares of the business services provider’s stock after purchasing an additional 48,065 shares during the period. Parametric Portfolio Associates LLC owned about 0.44% of Kelly Services worth $3,789,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Kelly Services in the second quarter worth approximately $117,000. State of Alaska Department of Revenue grew its position in Kelly Services by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock worth $128,000 after acquiring an additional 2,501 shares in the last quarter. Victory Capital Management Inc. grew its position in Kelly Services by 34.6% in the first quarter. Victory Capital Management Inc. now owns 7,213 shares of the business services provider’s stock worth $158,000 after acquiring an additional 1,856 shares in the last quarter. First Quadrant L P CA bought a new stake in Kelly Services in the second quarter worth approximately $242,000. Finally, Palouse Capital Management Inc. grew its position in Kelly Services by 26.0% in the second quarter. Palouse Capital Management Inc. now owns 11,751 shares of the business services provider’s stock worth $264,000 after acquiring an additional 2,424 shares in the last quarter. 66.23% of the stock is currently owned by hedge funds and other institutional investors.
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KELYA has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Kelly Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub raised shares of Kelly Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, ValuEngine downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Monday, July 17th.
Shares of Kelly Services, Inc. (NASDAQ KELYA) opened at 26.04 on Tuesday. The company has a market capitalization of $997.54 million, a P/E ratio of 7.80 and a beta of 1.00. Kelly Services, Inc. has a 52-week low of $18.06 and a 52-week high of $26.81. The firm has a 50-day moving average of $24.96 and a 200 day moving average of $23.07.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, analysts anticipate that Kelly Services, Inc. will post $1.73 EPS for the current year.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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