Kelly Services, Inc. (NASDAQ:KELYA – Get Rating) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,030,000 shares, a decline of 8.8% from the January 15th total of 1,130,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 177,400 shares, the short-interest ratio is presently 5.8 days.
Institutional Inflows and Outflows
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Several hedge funds have recently modified their holdings of KELYA. Bank of New York Mellon Corp raised its position in shares of Kelly Services by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 417,195 shares of the business services provider’s stock worth $9,050,000 after purchasing an additional 2,941 shares during the last quarter. American Century Companies Inc. raised its position in shares of Kelly Services by 26.0% during the 1st quarter. American Century Companies Inc. now owns 67,385 shares of the business services provider’s stock worth $1,462,000 after purchasing an additional 13,906 shares during the last quarter. US Bancorp DE raised its position in shares of Kelly Services by 16.9% during the 1st quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock worth $91,000 after purchasing an additional 606 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Kelly Services by 66.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,038 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 2,401 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Kelly Services by 48.2% in the 1st quarter. MetLife Investment Management LLC now owns 18,311 shares of the business services provider’s stock valued at $397,000 after acquiring an additional 5,957 shares during the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.
Kelly Services Stock Up 2.5 %
KELYA stock opened at $18.37 on Thursday. The company’s 50-day simple moving average is $17.27 and its 200-day simple moving average is $16.72. Kelly Services has a 52-week low of $13.41 and a 52-week high of $23.00. The firm has a market cap of $697.14 million, a P/E ratio of 91.85, a PEG ratio of 0.70 and a beta of 1.09.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on KELYA shares. Northcoast Research downgraded Kelly Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 7th. Noble Financial dropped their price objective on shares of Kelly Services to $25.00 in a report on Wednesday, November 16th. Finally, Barrington Research dropped their price objective on shares of Kelly Services from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, November 18th.
About Kelly Services
Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.
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