Cidel Asset Management Inc. Sells 60,995 Shares of Boyd Group Services Inc. $BGSI

Cidel Asset Management Inc. lessened its holdings in Boyd Group Services Inc. (NYSE:BGSI) by 39.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 91,914 shares of the company’s stock after selling 60,995 shares during the period. Cidel Asset Management Inc.’s holdings in Boyd Group Services were worth $8,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS Group AG purchased a new position in shares of Boyd Group Services in the fourth quarter valued at about $2,071,000. Cardinal Point Capital Management ULC purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $2,967,000. Advisory Alpha LLC bought a new stake in Boyd Group Services during the 4th quarter valued at approximately $2,750,000. Cumberland Partners Ltd bought a new stake in Boyd Group Services during the 4th quarter valued at approximately $2,089,000. Finally, William Blair Investment Management LLC purchased a new position in Boyd Group Services in the 4th quarter worth approximately $22,611,000. 0.17% of the stock is owned by institutional investors.

Boyd Group Services Trading Down 3.7%

Shares of BGSI stock opened at $87.12 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 189.41 and a beta of 0.70. Boyd Group Services Inc. has a 12-month low of $82.26 and a 12-month high of $183.10. The stock’s 50-day moving average price is $96.88 and its 200-day moving average price is $114.46.

Boyd Group Services (NYSE:BGSI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.14). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%. Equities research analysts predict that Boyd Group Services Inc. will post 3.43 EPS for the current fiscal year.

Boyd Group Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.156 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.62 annualized dividend and a yield of 0.7%. Boyd Group Services’s dividend payout ratio (DPR) is 93.48%.

Wall Street Analysts Forecast Growth

BGSI has been the subject of several recent analyst reports. Zacks Research upgraded Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Boyd Group Services in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Boyd Group Services Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.