Performance Sports Group Ltd. (PSG) Shares Up 4.6%
Performance Sports Group Ltd. (NYSE:PSG) shares shot up 4.6% during trading on Monday . The company traded as high as $3.22 and last traded at $3.21, with a volume of 268,119 shares traded. The stock had previously closed at $3.07.
A number of brokerages have recently commented on PSG. Sterne Agee CRT reiterated a “buy” rating on shares of Performance Sports Group in a report on Sunday, April 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $3.50 price target on shares of Performance Sports Group in a report on Thursday, June 9th. Bank of America Corp. reiterated a “sell” rating on shares of Performance Sports Group in a report on Thursday, June 9th. Wunderlich cut their price target on Performance Sports Group from $6.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, June 9th. Finally, Zacks Investment Research upgraded Performance Sports Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $7.77.
The firm’s market cap is $147.18 million. The company has a 50 day moving average price of $3.08 and a 200-day moving average price of $4.60.
In other news, Director Daniel M. Friedberg acquired 75,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $3.54 per share, with a total value of $265,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sagard Capital Partners, L.P. acquired 171,311 shares of the business’s stock in a transaction on Wednesday, April 27th. The stock was purchased at an average cost of $3.71 per share, with a total value of $635,563.81. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Boston Partners purchased a new position in Performance Sports Group during the fourth quarter worth $1,598,000. Foresters Investment Management Company Inc. raised 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 period. Mutual of America Capital Management LLC raised 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 period. Finally, Russell Frank Co raised 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 period.
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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