Performance Sports Group Ltd. (NYSE:PSG) was down 3.2% during mid-day trading on Wednesday . The company traded as low as $2.98 and last traded at $3.00, with a volume of 282,761 shares traded. The stock had previously closed at $3.10.

A number of equities research analysts have recently issued reports on PSG shares. Bank of America Corp. lowered Performance Sports Group from a “neutral” rating to an “underperform” rating in a research report on Monday, March 28th. Zacks Investment Research raised Performance Sports Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $3.50 target price on shares of Performance Sports Group in a research report on Thursday, June 9th. Sterne Agee CRT reaffirmed a “buy” rating and set a $6.00 target price on shares of Performance Sports Group in a research report on Wednesday, March 16th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Performance Sports Group in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Performance Sports Group currently has a consensus rating of “Hold” and a consensus target price of $7.77.

The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $4.88. The stock’s market cap is $135.79 million.

Performance Sports Group (NYSE:PSG) last posted its quarterly earnings results on Thursday, April 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. During the same quarter in the prior year, the company earned $0.13 EPS. The firm earned $126.10 million during the quarter, compared to analyst estimates of $124.44 million. The firm’s revenue was down 8.4% compared to the same quarter last year. Analysts forecast that Performance Sports Group Ltd. will post ($0.06) EPS for the current fiscal year.

In related news, major shareholder Sagard Capital Partners, L.P. purchased 80,000 shares of Performance Sports Group stock in a transaction dated Thursday, May 12th. The shares were acquired at an average cost of $3.52 per share, for a total transaction of $281,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Michael Jacobi purchased 30,830 shares of Performance Sports Group stock in a transaction dated Wednesday, April 20th. The stock was bought at an average price of $3.56 per share, for a total transaction of $109,754.80. Following the completion of the transaction, the director now directly owns 11,830 shares in the company, valued at $42,114.80. The disclosure for this purchase can be found here.

A number of hedge funds have modified their holdings of the company. Pembroke Management LTD increased its stake in shares of Performance Sports Group by 0.7% in the fourth quarter. Pembroke Management LTD now owns 1,846,300 shares of the company’s stock valued at $24,629,000 after buying an additional 12,700 shares during the last quarter. Russell Frank Co increased its stake in shares of Performance Sports Group by 23.5% in the fourth quarter. Russell Frank Co now owns 613,004 shares of the company’s stock valued at $5,977,000 after buying an additional 116,672 shares during the last quarter. Morgan Stanley increased its stake in shares of Performance Sports Group by 129.5% in the fourth quarter. Morgan Stanley now owns 369,284 shares of the company’s stock valued at $3,556,000 after buying an additional 208,383 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Performance Sports Group by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 262,070 shares of the company’s stock valued at $2,524,000 after buying an additional 1,567 shares during the last quarter. Finally, Foresters Investment Management Company Inc. increased its stake in shares of Performance Sports Group by 20.1% in the fourth quarter. Foresters Investment Management Company Inc. now owns 221,000 shares of the company’s stock valued at $2,128,000 after buying an additional 37,000 shares during the last quarter.

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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