Beach Point Capital Management Lp adds Performance Sports Group Ltd (PSG) to its portfolio

Performance Sports Group Ltd (PSG) : Beach Point Capital Management Lp added new position in Performance Sports Group Ltd during the most recent quarter end. The investment management firm now holds 1,415,792 shares of Performance Sports Group Ltd which is valued at $4,926,956 , the company said in a statement filed on Aug 12, 2016 with the SEC.Performance Sports Group Ltd makes up approximately 2.47% of Beach Point Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management boosted its stake in PSG in the latest quarter, The investment management firm added 306,482 additional shares and now holds a total of 798,691 shares of Performance Sports Group Ltd which is valued at $2,779,445. Performance Sports Group Ltd makes up approx 0.05% of Kennedy Capital Management’s portfolio. Analytic Investors sold out all of its stake in PSG during the most recent quarter. The investment firm sold 28,836 shares of PSG which is valued $100,349.Tiaa Cref Investment Management reduced its stake in PSG by selling 149,428 shares or 44.51% in the most recent quarter. The Hedge Fund company now holds 186,314 shares of PSG which is valued at $648,373. Suffolk Capital Management sold out all of its stake in PSG during the most recent quarter. The investment firm sold 310,875 shares of PSG which is valued $1,044,540. Her Majesty The Queen In Right Of The Province Of Alberta… sold out all of its stake in PSG during the most recent quarter. The investment firm sold 346,680 shares of PSG which is valued $1,164,845.

Performance Sports Group Ltd closed down -0.06 points or -2.37% at $2.47 with 12,47,064 shares getting traded on Monday. Post opening the session at $2.49, the shares hit an intraday low of $2.28 and an intraday high of $2.52 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Downgraded by Wedbush on Aug 16, 2016 to ” Neutral” and Lowered the Price Target to $ 2.50 from a previous price target of $5 .Shares were Downgraded by DA Davidson on Aug 16, 2016 to ” Neutral” and Lowered the Price Target to $ 2 from a previous price target of $4 .Shares were Reiterated by Wunderlich on Jun 9, 2016 to “Hold” and Lowered the Price Target to $ 4 from a previous price target of $6 .

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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