A number of other research analysts also recently issued reports on PSG. Royal Bank Of Canada downgraded Performance Sports Group from a sector perform rating to an underperform rating in a research note on Monday, August 22nd. Zacks Investment Research raised Performance Sports Group from a strong sell rating to a hold rating in a research note on Wednesday, August 10th. Wedbush downgraded Performance Sports Group from an outperform rating to a neutral rating and dropped their price objective for the company from $5.00 to $2.50 in a research note on Tuesday, August 16th. Bank of America Corp. reissued a sell rating on shares of Performance Sports Group in a research note on Thursday, June 9th. Finally, Wunderlich dropped their price objective on Performance Sports Group from $6.00 to $4.00 and set a hold rating on the stock in a research note on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $7.13.
Performance Sports Group (NYSE:PSG) opened at 3.90 on Monday. The company’s 50-day moving average price is $2.93 and its 200 day moving average price is $3.24. The firm’s market capitalization is $177.71 million. Performance Sports Group has a 12 month low of $1.18 and a 12 month high of $14.43.
In related news, major shareholder Brookfield Asset Management In acquired 150,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was purchased at an average cost of $3.65 per share, with a total value of $547,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Several institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its position in Performance Sports Group by 5,331.1% in the second quarter. Boston Partners now owns 2,492,886 shares of the company’s stock valued at $7,479,000 after buying an additional 2,446,986 shares in the last quarter. Beach Point Capital Management LP acquired a new position in Performance Sports Group during the second quarter valued at about $4,247,000. Emerald Acquisition Ltd. acquired a new position in Performance Sports Group during the second quarter valued at about $3,581,000. Sagard Capital Partners Management Corp raised its position in Performance Sports Group by 12.5% in the second quarter. Sagard Capital Partners Management Corp now owns 7,721,599 shares of the company’s stock valued at $23,165,000 after buying an additional 858,911 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Performance Sports Group by 40.4% in the second quarter. Royal Bank of Canada now owns 2,518,263 shares of the company’s stock valued at $7,554,000 after buying an additional 725,085 shares in the last quarter. 77.70% of the stock is owned by institutional investors.
About Performance Sports Group
Performance Sports Group Ltd. is engaged in the design, manufacture and distribution of performance sports equipment for ice hockey, roller hockey, baseball and softball, lacrosse, as well as related apparel and accessories, including soccer apparel. The Company’s segments include Hockey, Baseball/Softball and Other Sports.
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