Performance Sports Group Ltd. (NYSE:PSG) fell 3.5% during trading on Tuesday . The stock traded as low as $3.61 and last traded at $3.62, with a volume of 579,330 shares. The stock had previously closed at $3.75.

Several research firms have recently commented on PSG. RBC Capital Markets cut Performance Sports Group from a “sector perform” rating to an “underperform” rating in a research note on Monday, August 22nd. Zacks Investment Research cut Performance Sports Group from a “hold” rating to a “strong sell” rating in a research note on Friday, June 3rd. 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 research note on Thursday, June 9th. DA Davidson cut Performance Sports Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a research note on Tuesday, August 16th. Finally, Bank of America Corp. restated a “sell” rating on shares of Performance Sports Group in a research note on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.13.

The firm’s 50 day moving average is $2.89 and its 200-day moving average is $3.27. The stock’s market cap is $166.32 million.

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In related news, major shareholder Brookfield Asset Management In purchased 154,402 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average price of $3.56 per share, with a total value of $549,671.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge funds have recently made changes to their positions in the company. RMB Capital Management LLC increased its stake in shares of Performance Sports Group by 48.5% in the first quarter. RMB Capital Management LLC now owns 765,000 shares of the company’s stock valued at $2,433,000 after buying an additional 250,000 shares during the last quarter. BlackRock Inc. increased its stake in shares of 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. BlackRock Group LTD increased its stake in shares of Performance Sports Group by 14.7% in the first quarter. BlackRock Group LTD now owns 458,868 shares of the company’s stock valued at $1,459,000 after buying an additional 58,675 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased 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 last quarter. Finally, Forward Management LLC increased its stake in shares of 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. 77.70% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:PSG

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