Emerald Acquisition Ltd. acquired a new stake in Performance Sports Group Ltd. (NYSE:PSG) during the second quarter, Holdings Channel reports. The firm acquired 1,193,365 shares of the company’s stock, valued at approximately $3,581,000. Emerald Acquisition Ltd. owned 2.62% of Performance Sports Group at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PSG. BlackRock Institutional Trust Company N.A. raised its stake in shares of Performance Sports Group by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 399,404 shares of the company’s stock valued at $1,270,000 after buying an additional 9,157 shares during the period. Geode Capital Management LLC raised its position in Performance Sports Group by 44.6% in the first quarter. Geode Capital Management LLC now owns 66,925 shares of the company’s stock valued at $213,000 after buying an additional 20,634 shares during the last quarter. Forward Management LLC raised its position in Performance Sports Group by 92.7% in the first quarter. Forward Management LLC now owns 61,449 shares of the company’s stock valued at $195,000 after buying an additional 29,559 shares during the last quarter. BlackRock Inc. raised its position in Performance Sports Group by 31.3% in the first quarter. BlackRock Inc. now owns 148,816 shares of the company’s stock valued at $473,000 after buying an additional 35,510 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Performance Sports Group by 353.0% in the first quarter. Goldman Sachs Group Inc. now owns 47,772 shares of the company’s stock valued at $152,000 after buying an additional 37,227 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

Performance Sports Group Ltd. (NYSE:PSG) traded up 4.00% during midday trading on Thursday, reaching $3.90. 550,287 shares of the company’s stock were exchanged. The stock’s market capitalization is $177.71 million. The stock’s 50-day moving average is $2.91 and its 200-day moving average is $3.24. Performance Sports Group Ltd. has a 12-month low of $1.18 and a 12-month high of $14.43.

Several equities analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of Performance Sports Group in a report on Monday. They set a “hold” rating and a $4.00 target price for the company. Bank of America Corp. reiterated a “sell” rating on shares of Performance Sports Group in a report on Thursday, June 9th. Wunderlich lowered their target price on shares of Performance Sports Group from $6.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, June 9th. Zacks Investment Research upgraded shares of Performance Sports Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $3.50 target price on shares of Performance Sports Group in a report on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Performance Sports Group has a consensus rating of “Hold” and an average target price of $7.13.

In other Performance Sports Group news, major shareholder Brookfield Asset Management In acquired 154,402 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were purchased at an average cost of $3.56 per share, for a total transaction of $549,671.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Performance Sports Group Company Profile

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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