Monashee Investment Management LLC Invests $2.06 Million in Pattern Group Inc. $PTRN

Monashee Investment Management LLC acquired a new position in Pattern Group Inc. (NASDAQ:PTRN) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 150,000 shares of the company’s stock, valued at approximately $2,055,000. Monashee Investment Management LLC owned about 0.10% of Pattern Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PTRN. PNC Financial Services Group Inc. purchased a new position in Pattern Group in the 3rd quarter worth approximately $89,000. SG Americas Securities LLC bought a new stake in shares of Pattern Group during the 3rd quarter worth $168,000. Greenland Capital Management LP bought a new stake in shares of Pattern Group during the 3rd quarter worth $174,000. Federated Hermes Inc. purchased a new position in Pattern Group in the third quarter worth $247,000. Finally, Copia Wealth Management bought a new position in Pattern Group in the third quarter valued at $294,000.

Pattern Group Stock Down 6.6%

Shares of NASDAQ:PTRN opened at $10.53 on Friday. The company has a market capitalization of $1.63 billion and a PE ratio of -4.81. The company’s 50-day moving average is $12.51. Pattern Group Inc. has a 12-month low of $8.92 and a 12-month high of $20.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price target on Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Evercore set a $23.00 price objective on Pattern Group and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group set a $20.00 target price on Pattern Group in a research report on Thursday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Pattern Group in a research note on Thursday, January 15th. Finally, Stifel Nicolaus set a $22.00 price target on shares of Pattern Group in a research report on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.