UBS Group AG Decreases Stake in Pattern Group Inc. $PTRN

UBS Group AG decreased its position in Pattern Group Inc. (NASDAQ:PTRN) by 65.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 193,002 shares of the company’s stock after selling 360,135 shares during the period. UBS Group AG owned 0.12% of Pattern Group worth $2,227,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capelight Capital Asset Management LP purchased a new stake in Pattern Group in the 4th quarter valued at about $923,000. Harbor Capital Advisors Inc. purchased a new stake in Pattern Group in the 4th quarter valued at about $244,000. Allspring Global Investments Holdings LLC increased its stake in Pattern Group by 8.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,077,956 shares of the company’s stock valued at $23,896,000 after buying an additional 169,297 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Pattern Group in the 3rd quarter valued at about $4,385,000. Finally, FNY Investment Advisers LLC purchased a new stake in Pattern Group in the 3rd quarter valued at about $137,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Robert W. Baird decreased their price target on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Stifel Nicolaus decreased their price target on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research note on Monday, March 23rd. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Insider Buying and Selling

In related news, Director Ann Mather sold 5,301 shares of the firm’s 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 approximately $520,213.59. This trade represents 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 Stock Down 1.5%

Shares of PTRN stock opened at $18.68 on Thursday. The company has a 50 day moving average of $14.13 and a 200-day moving average of $13.43. Pattern Group Inc. has a 12-month low of $8.92 and a 12-month high of $20.10. The firm has a market cap of $2.90 billion and a P/E ratio of -9.99.

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

Pattern Group declared that its board has approved a stock buyback program on Thursday, March 5th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.