NewGen Asset Management Ltd Increases Stock Position in Boyd Group Services Inc. $BGSI

NewGen Asset Management Ltd grew its position in Boyd Group Services Inc. (NYSE:BGSI) by 155.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 69,800 shares of the company’s stock after buying an additional 42,500 shares during the period. Boyd Group Services makes up about 3.4% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding. NewGen Asset Management Ltd’s holdings in Boyd Group Services were worth $8,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisbourg Investments Inc. bought a new stake in shares of Boyd Group Services during the fourth quarter valued at approximately $7,272,000. Cidel Asset Management Inc. bought a new position in Boyd Group Services in the 4th quarter valued at approximately $9,046,000. Addenda Capital Inc. purchased a new stake in Boyd Group Services during the 4th quarter valued at $10,843,000. Massachusetts Financial Services Co. MA purchased a new stake in Boyd Group Services during the 4th quarter valued at $29,216,000. Finally, Assetmark Inc. bought a new stake in shares of Boyd Group Services in the 4th quarter worth $59,000. Institutional investors own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research cut Boyd Group Services from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Wall Street Zen cut Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens reduced their price objective on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $157.00.

Boyd Group Services Trading Down 0.6%

Shares of BGSI stock opened at $103.45 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.58. Boyd Group Services Inc. has a 12-month low of $88.97 and a 12-month high of $183.10. The stock has a market capitalization of $2.88 billion, a PE ratio of 156.75 and a beta of 0.76. The stock has a 50 day moving average of $99.97.

Boyd Group Services (NYSE:BGSI) last announced its earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%. As a group, equities analysts predict that Boyd Group Services Inc. will post 3.85 earnings per share for the current year.

Boyd Group Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th will be given a dividend of $0.156 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Boyd Group Services’s dividend payout ratio is 66.67%.

Boyd Group Services Company 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.