Readystate Asset Management LP Has $571,000 Stock Holdings in Pattern Group Inc. $PTRN

Readystate Asset Management LP reduced its stake in Pattern Group Inc. (NASDAQ:PTRN) by 32.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,911 shares of the company’s stock after selling 22,148 shares during the period. Readystate Asset Management LP’s holdings in Pattern Group were worth $571,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Clearstead Advisors LLC lifted its stake in shares of Pattern Group by 222.0% during the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after buying an additional 1,636 shares during the last quarter. Roxbury Financial LLC bought a new position in Pattern Group in the 1st quarter valued at about $40,000. Federation des caisses Desjardins du Quebec acquired a new stake in Pattern Group during the fourth quarter worth approximately $58,000. Susquehanna International Group LLP acquired a new stake in Pattern Group during the third quarter worth approximately $137,000. Finally, Jacobs Equity LLC bought a new stake in shares of Pattern Group during the fourth quarter worth approximately $151,000.

Insider Activity at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the transaction, the director owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. The trade was a 14.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 70.97% of the company’s stock.

Pattern Group Price Performance

Shares of NASDAQ:PTRN opened at $23.05 on Thursday. Pattern Group Inc. has a 1 year low of $8.92 and a 1 year high of $29.80. The stock has a market capitalization of $3.58 billion and a price-to-earnings ratio of -12.33. The company’s 50 day simple moving average is $23.03 and its 200 day simple moving average is $16.51.

Pattern Group (NASDAQ:PTRN) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share 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 firm’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, analysts anticipate that Pattern Group Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group cut Pattern Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $21.00 to $30.00 in a report on Tuesday, July 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Pattern Group in a report on Monday, June 29th. JPMorgan Chase & Co. increased their price objective on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a report on Thursday, June 18th. Finally, Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Pattern Group Profile

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.