Finish Line Inc. disclosed Friday that U.K. sporting good retailer Sports Direct International PLC has acquired 3.2 million shares, or 7.9% of the athletic shoe retailer’s shares outstanding. The stake would make Sports Direct the fifth-largest shareholder of Finish Line, according to FactSet. Finish Line’s stock plunged to a 6 1/2-year low in March in the wake of disappointing quarterly results, before paring some losses to be down 23% year to date. Meanwhile, Sports Direct shares have climbed 12% and the S&P 500 has gained 4%.
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