Tudor Investment Corp ET AL Invests $4.39 Million in Pattern Group Inc. $PTRN

Tudor Investment Corp ET AL acquired a new stake in Pattern Group Inc. (NASDAQ:PTRN) in the 3rd quarter, Holdings Channel reports. The firm acquired 320,067 shares of the company’s stock, valued at approximately $4,385,000.

A number of other institutional investors also recently modified their holdings of PTRN. SG Americas Securities LLC bought a new position in Pattern Group during the third quarter worth $168,000. Steadview Capital Management LLC bought a new stake in Pattern Group in the third quarter valued at $5,480,000. Teacher Retirement System of Texas acquired a new position in shares of Pattern Group during the third quarter valued at about $2,740,000. Copia Wealth Management acquired a new position in shares of Pattern Group during the third quarter valued at about $294,000. Finally, Federated Hermes Inc. bought a new position in shares of Pattern Group during the 3rd quarter worth about $247,000.

Analyst Upgrades and Downgrades

PTRN has been the subject of several research reports. Stifel Nicolaus reduced their target price on Pattern Group from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Pattern Group in a report on Thursday, January 15th. Jefferies Financial Group set a $20.00 price objective on Pattern Group in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on Pattern Group from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, March 6th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.22.

Pattern Group Price Performance

Shares of NASDAQ PTRN opened at $12.76 on Thursday. The firm’s 50-day simple moving average is $12.12. The firm has a market capitalization of $1.98 billion and a PE ratio of -6.29. Pattern Group Inc. has a 1 year low of $8.92 and a 1 year high of $20.10.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $723.10 million during the quarter, compared to analyst estimates of $691.35 million. The business’s revenue was up 40.3% on a year-over-year basis.

Pattern Group declared that its board has authorized a share buyback plan on Thursday, March 5th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.