Sagard Capital Partners Management Corp buys $24.2 Million stake in Performance Sports Group Ltd (PSG)

Performance Sports Group Ltd (PSG) : Sagard Capital Partners Management Corp scooped up 5,911,399 additional shares in Performance Sports Group Ltd during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 6,862,688 shares of Performance Sports Group Ltd which is valued at $24.2 Million.Performance Sports Group Ltd makes up approximately 9.29% of Sagard Capital Partners Management Corp’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp reduced its stake in PSG by selling 3,312,935 shares or 55.06% in the most recent quarter. The Hedge Fund company now holds 2,703,914 shares of PSG which is valued at $9.5 Million. Tfs Capital added PSG to its portfolio by purchasing 31,743 company shares during the most recent quarter which is valued at $111,735. Performance Sports Group Ltd makes up approx 0.02% of Tfs Capital’s portfolio.Blackrock Fund Advisors reduced its stake in PSG by selling 40,560 shares or 3.77% in the most recent quarter. The Hedge Fund company now holds 1,035,089 shares of PSG which is valued at $3.6 Million. Princeton Alpha Management Lp added PSG to its portfolio by purchasing 12,463 company shares during the most recent quarter which is valued at $42,997. Performance Sports Group Ltd makes up approx 0.01% of Princeton Alpha Management Lp’s portfolio.New Jersey Better Educational Savings Trust boosted its stake in PSG in the latest quarter, The investment management firm added 50,000 additional shares and now holds a total of 80,000 shares of Performance Sports Group Ltd which is valued at $296,800. Performance Sports Group Ltd makes up approx 0.20% of New Jersey Better Educational Savings Trust’s portfolio.

Performance Sports Group Ltd opened for trading at $3.2 and hit $3.41 on the upside on Wednesday, eventually ending the session at $3.33, with a gain of 5.05% or 0.16 points. The heightened volatility saw the trading volume jump to 7,20,807 shares. Company has a market cap of $152 M.

On the company’s financial health, Performance Sports Group Ltd reported $-0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $-0.29. The company had revenue of $126.10 million for the quarter, compared to analysts expectations of $127.58 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Performance Sports Group Ltd. Shares were Reiterated by RBC Capital Mkts on Apr 18, 2016 to “Sector Perform” and Lowered the Price Target to $ 3 from a previous price target of $3.50 .Performance Sports Group Ltd was Downgraded by BofA/Merrill to ” Underperform” on Mar 28, 2016. Performance Sports Group Ltd was Downgraded by Morgan Stanley to ” Equal-Weight” on Mar 14, 2016.

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. The Hockey segment includes the Bauer and Mission brands. The Baseball/Softball segment includes the Easton and Combat brands. Its Other Sports includes the Lacrosse and Soccer operating segments which includes the Maverik and Cascade brands for Lacrosse and the Inaria brand for Soccer. The ice hockey products include skates helmets protective gear sticks team apparel and accessories. The roller hockey products include skates helmets protective gear sticks and accessories. The baseball and softball products include bats gloves helmets protective gear apparel and accessories. The lacrosse products include sticks helmets protective gear and apparel.

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