OneStream downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded OneStream (OS) to Peer Perform from Outperform after the company agreed to be acquired by Hg Capital. The firm downgraded the shares given the announced takeout price and limited remaining upside with shares trading close to the deal value. The firm noted that, under the deal, Hg will become the majority voting shareholder, with General Atlantic and Tidemark participating as significant minority investors.