In today’s marketplace, there are tons of indicators investors can use to monitor their holdings. Some of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can outpace the market by a solid margin (see just how much).
Equally as integral, optimistic insider trading activity is another way to break down the world of equities. Just as you’d expect, there are plenty of reasons for an executive to downsize shares of his or her company, but only one, very clear reason why they would initiate a purchase. Many empirical studies have demonstrated the market-beating potential of this tactic if piggybackers know what to do (learn more here).
Consequently, it’s important to take a glance at the recent action regarding Kelly Services, Inc. (NASDAQ:KELYA).
Hedge fund activity in Kelly Services, Inc. (NASDAQ:KELYA)
Heading into Q2, a total of 12 of the hedge funds we track were bullish in this stock, a change of 9% from the first quarter. With hedge funds’ capital changing hands, there exists a select group of notable hedge fund managers who were boosting their holdings considerably.
According to our comprehensive database, Chuck Royce’s Royce & Associates had the biggest position in Kelly Services, Inc. (NASDAQ:KELYA), worth close to $19.4 million, accounting for 0.1% of its total 13F portfolio. The second largest stake is held by Third Avenue Management, managed by Martin Whitman, which held a $5.3 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Matthew Hulsizer’s PEAK6 Capital Management, Joel Greenblatt’s Gotham Asset Management and Cliff Asness’s AQR Capital Management.
As industrywide interest jumped, key money managers have been driving this bullishness. Hutchin Hill Capital, managed by Neil Chriss, created the most outsized position in Kelly Services, Inc. (NASDAQ:KELYA). Hutchin Hill Capital had 0.6 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.6 million position during the quarter. The only other fund with a brand new KELYA position is Israel Englander’s Millennium Management.
Insider trading activity in Kelly Services, Inc. (NASDAQ:KELYA)
Bullish insider trading is particularly usable when the company in focus has seen transactions within the past six months. Over the latest six-month time period, Kelly Services, Inc. (NASDAQ:KELYA) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Kelly Services, Inc. (NASDAQ:KELYA). These stocks are Trueblue Inc (NYSE:TBI), Kforce Inc. (NASDAQ:KFRC), DICE HOLDINGS, INC. (NYSE:DHX), Compass Diversified Holdings (NYSE:CODI), and AMN Healthcare Services, Inc. (NYSE:AHS). This group of stocks are the members of the staffing & outsourcing services industry and their market caps are closest to KELYA’s market cap.
