Pattern Group (NASDAQ:PTRN) Trading 3.5% Higher – Here’s What Happened

Pattern Group Inc. (NASDAQ:PTRN)’s stock price was up 3.5% on Monday . The stock traded as high as $12.27 and last traded at $12.25. Approximately 237,893 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 980,058 shares. The stock had previously closed at $11.84.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PTRN shares. BMO Capital Markets lifted their target price on shares of Pattern Group from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. KeyCorp upped their price target on shares of Pattern Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $22.00 price objective on shares of Pattern Group in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Pattern Group to a “hold” rating in a report on Saturday, October 11th. Finally, Zacks Research upgraded shares of Pattern Group to a “hold” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Pattern Group Trading Up 3.1%

The stock’s 50 day simple moving average is $14.81.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($2.19) earnings per share for the quarter, topping the consensus estimate of ($2.71) by $0.52. The business had revenue of $639.66 million during the quarter, compared to the consensus estimate of $570.78 million.

Hedge Funds Weigh In On Pattern Group

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in shares of Pattern Group in the 3rd quarter valued at about $89,000. FNY Investment Advisers LLC acquired a new stake in Pattern Group in the third quarter valued at approximately $137,000. Susquehanna International Group LLP purchased a new position in Pattern Group in the third quarter worth $137,000. SG Americas Securities LLC acquired a new position in Pattern Group during the 3rd quarter valued at about $168,000. Finally, Greenland Capital Management LP acquired a new stake in Pattern Group in the 3rd quarter worth approximately $174,000.

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.