Kelly Services, Inc. (KELYA): Is It A Good Stock to Buy?

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With general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Citadel Investment Group established the most valuable position in Kelly Services, Inc. (NASDAQ:KELYA). Citadel Investment Group had $1.4 million invested in the company at the end of the quarter. Millennium Management, one of the 10 largest hedge funds in the world, also initiated a $0.3 million position during the quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Kelly Services, Inc. (NASDAQ:KELYA) but similarly valued. These stocks are TerraForm Global Inc (NASDAQ:GLBL), Sandy Spring Bancorp Inc. (NASDAQ:SASR), ORBCOMM Inc (NASDAQ:ORBC), and Perficient, Inc. (NASDAQ:PRFT). This group of stocks’ market caps match KELYA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GLBL 15 124310 -1
SASR 8 19400 2
ORBC 18 133227 2
PRFT 9 7940 -1

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $37 million in KELYA’s case. ORBCOMM Inc (NASDAQ:ORBC) is the most popular stock in this table. On the other hand Sandy Spring Bancorp Inc. (NASDAQ:SASR) is the least popular one with only 8 bullish hedge fund positions. Kelly Services, Inc. (NASDAQ:KELYA) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ORBC might be a better candidate to consider taking a long position in.

Disclosure: None

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