Thursday, May 21, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Letter. In a letter to the members of Kelly’s Board of Directors, Chris Hunt, CEO of Hunt Companies and Chairman of Kelly’s Board, requested, on behalf of Hunt Companies, that Kelly form a special committee of independent and disinterested directors so that Kelly may be prepared to discuss and evaluate new potential opportunities for Kelly involving Hunt and its affiliates if and when presented without delay.
Letter Agreement. The formation of such a committee is a requirement of the Letter Agreement between Hunt and Kelly. In its letter, Hunt states, “We want to emphasize that any potential transaction would be pursued only in accordance with the terms of the Letter Agreement,” which contains a 1-year standstill on a going private transaction, which we believe provides protection to A shareholders as management continues to transform the Company. As a reminder, in January Hunt acquired approximately 92.2% of the controlling B shares.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.