Wasatch Advisors LP Purchases 692,735 Shares of Pattern Group Inc. $PTRN

Wasatch Advisors LP boosted its holdings in Pattern Group Inc. (NASDAQ:PTRN) by 28.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,135,129 shares of the company’s stock after acquiring an additional 692,735 shares during the quarter. Wasatch Advisors LP owned about 2.02% of Pattern Group worth $78,974,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its position 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 valued at $27,000 after acquiring an additional 1,636 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Pattern Group in the 1st quarter worth $40,000. Barclays PLC raised its position in shares of Pattern Group by 25.2% during the fourth quarter. Barclays PLC now owns 16,652 shares of the company’s stock worth $192,000 after purchasing an additional 3,352 shares during the period. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Pattern Group during the fourth quarter valued at $58,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Pattern Group during the third quarter valued at $137,000.

Pattern Group Stock Performance

Pattern Group stock opened at $22.36 on Wednesday. Pattern Group Inc. has a twelve month low of $8.92 and a twelve month high of $29.80. The firm has a market cap of $3.48 billion and a PE ratio of -13.00. The firm’s 50 day moving average price is $23.77 and its two-hundred day moving average price is $17.10.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 475.61%. The business had revenue of $876.77 million for the quarter. Equities analysts anticipate that Pattern Group Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PTRN shares. Robert W. Baird set a $26.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $31.00 target price on shares of Pattern Group in a report on Thursday, August 6th. KeyCorp lifted their price target on Pattern Group from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Evercore reissued an “outperform” rating and set a $29.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. Finally, 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 note on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insider Buying and Selling

In other Pattern Group news, Director Ann Mather sold 5,301 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.51, for a total value of $87,519.51. Following the transaction, the director owned 31,509 shares in the company, valued at $520,213.59. The trade was a 14.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 70.97% of the stock is owned by company insiders.

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.