Pattern Group Inc. $PTRN Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC trimmed its position in shares of Pattern Group Inc. (NASDAQ:PTRN) by 56.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,926 shares of the company’s stock after selling 283,853 shares during the quarter. Pattern Group accounts for approximately 1.3% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 17th largest holding. Grandeur Peak Global Advisors LLC owned about 0.14% of Pattern Group worth $5,414,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Knox Lane LP purchased a new position in shares of Pattern Group during the 4th quarter worth approximately $325,157,000. Norges Bank acquired a new stake in shares of Pattern Group in the 4th quarter valued at approximately $25,965,000. Wasatch Advisors LP purchased a new stake in shares of Pattern Group in the fourth quarter valued at approximately $23,144,000. Vanguard Group Inc. acquired a new position in Pattern Group during the third quarter worth $20,640,000. Finally, Woodline Partners LP acquired a new position in Pattern Group during the third quarter worth $19,678,000.

Pattern Group Price Performance

NASDAQ PTRN opened at $21.17 on Monday. The business has a 50 day moving average price of $24.01 and a 200 day moving average price of $17.77. The company has a market capitalization of $3.30 billion and a P/E ratio of -12.31. Pattern Group Inc. has a 1-year low of $8.92 and a 1-year high of $29.80.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%.The company had revenue of $876.77 million for the quarter. On average, research analysts expect that Pattern Group Inc. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTRN has been the subject of a number of recent analyst reports. Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped 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. Needham & Company LLC increased their price target on shares of Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $29.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pattern Group currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Pattern Group Company 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.