Boyd Group Services Inc. $BGSI Shares Sold by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management cut its Boyd Group Services stake by 44.8% in the first quarter, selling 13,000 shares and retaining 16,000 shares worth approximately $2.04 million. Institutional investors and hedge funds collectively own just 0.17% of the stock.
• Analyst sentiment has weakened, with recent downgrades from “buy” or “hold” to “sell” or “strong sell.” The stock carries an overall “Hold” rating and an average price target of $157, versus an opening price of $107.86.
• Boyd Group reported quarterly EPS of $0.58, slightly above the $0.56 consensus estimate, and declared a quarterly dividend of $0.156 per share, implying a 0.6% annualized yield.

Polar Asset Management Partners Inc. lessened its position in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 44.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,000 shares of the company's stock after selling 13,000 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.06% of Boyd Group Services worth $2,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BGSI. Assetmark Inc. purchased a new stake in shares of Boyd Group Services during the 4th quarter worth about $59,000. Public Sector Pension Investment Board purchased a new position in Boyd Group Services in the fourth quarter valued at approximately $262,000. Susquehanna Portfolio Strategies LLC acquired a new position in Boyd Group Services during the fourth quarter valued at approximately $287,000. Invesco Ltd. acquired a new position in Boyd Group Services during the fourth quarter valued at approximately $318,000. Finally, Deutsche Bank AG purchased a new stake in Boyd Group Services during the fourth quarter worth approximately $373,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on BGSI. Weiss Ratings reissued a "sell (d)" rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. Stephens decreased their price target on shares of Boyd Group Services from $200.00 to $157.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. Wall Street Zen downgraded Boyd Group Services from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Zacks Research downgraded Boyd Group Services from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Boyd Group Services has an average rating of "Hold" and an average target price of $157.00.

Boyd Group Services Stock Performance

Shares of NYSE BGSI opened at $107.86 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60. Boyd Group Services Inc. has a 1 year low of $88.97 and a 1 year high of $183.10. The stock's 50-day simple moving average is $99.91. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 163.43 and a beta of 0.76.

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

Boyd Group Services Dividend Announcement

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

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