Pattern Group Inc. (NASDAQ:PTRN) Given Average Rating of “Moderate Buy” by Brokerages

Pattern Group Inc. (NASDAQ:PTRN) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.8889.

Several analysts have issued reports on the company. Jefferies Financial Group lowered Pattern Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $21.00 to $30.00 in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, June 18th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $27.00 target price on shares of Pattern Group in a research note on Monday, June 29th.

Insiders Place Their Bets

In related news, Director Ann Mather sold 5,301 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the transaction, the director directly owned 31,509 shares of the company’s stock, valued at $520,213.59. This trade represents a 14.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.97% of the stock is currently owned by company insiders.

Institutional Trading of Pattern Group

Several large investors have recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in Pattern Group by 28.4% in the second quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock valued at $78,974,000 after purchasing an additional 692,735 shares during the period. Sylebra Capital LLC acquired a new stake in shares of Pattern Group in the 1st quarter valued at $1,971,000. Weiss Asset Management LP acquired a new stake in shares of Pattern Group in the 1st quarter valued at $3,212,000. Public Employees Retirement System of Ohio grew its stake in shares of Pattern Group by 44.8% during the first quarter. Public Employees Retirement System of Ohio now owns 118,097 shares of the company’s stock worth $1,468,000 after purchasing an additional 36,539 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Pattern Group in the first quarter valued at $561,000.

Pattern Group Stock Performance

Shares of PTRN opened at $29.18 on Thursday. Pattern Group has a fifty-two week low of $8.92 and a fifty-two week high of $29.63. The firm has a market cap of $4.53 billion and a price-to-earnings ratio of -15.60. The firm has a 50 day moving average price of $21.36 and a 200-day moving average price of $15.62.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $773.73 million for the quarter, compared to the consensus estimate of $715.90 million. The company’s revenue was up 43.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. As a group, equities research analysts predict that Pattern Group will post 0.56 earnings per share for the current year.

About Pattern Group

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.