Pattern Group Inc. (NASDAQ:PTRN) Short Interest Update

Pattern Group Inc. (NASDAQ:PTRN) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 4,321,456 shares, an increase of 115.5% from the June 15th total of 2,005,197 shares. Based on an average daily trading volume, of 3,432,871 shares, the short-interest ratio is presently 1.3 days. Approximately 9.6% of the shares of the stock are short sold.

Pattern Group Stock Performance

NASDAQ:PTRN traded down $0.26 on Thursday, hitting $28.92. 2,419,718 shares of the stock were exchanged, compared to its average volume of 1,403,017. The company’s 50-day moving average price is $21.36 and its 200 day moving average price is $15.62. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80. The stock has a market capitalization of $4.49 billion and a price-to-earnings ratio of -15.47.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $773.73 million during the quarter, compared to the consensus estimate of $715.90 million. During the same period in the previous year, the business posted $0.17 earnings per share. Pattern Group’s revenue was up 43.2% compared to the same quarter last year. As a group, equities research analysts predict that Pattern Group will post 0.56 earnings per share for the current year.

Insider Activity at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the transaction, the director owned 31,509 shares in the company, valued at $520,213.59. This trade represents a 14.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 70.97% of the stock is owned by company insiders.

Institutional Trading of Pattern Group

A number of hedge funds have recently modified their holdings of the company. Knox Lane LP acquired a new stake in Pattern Group in the fourth quarter worth $325,157,000. Norges Bank bought a new stake in shares of Pattern Group in the fourth quarter valued at about $25,965,000. Wasatch Advisors LP acquired a new position in Pattern Group during the 4th quarter worth 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 shares of Pattern Group during the 3rd quarter worth about $19,678,000.

Wall Street Analyst Weigh In

PTRN has been the topic of several analyst reports. Needham & Company LLC upped their target price on shares of Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a report on Thursday, June 18th. Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. raised their price target on Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $27.00 target price on shares of Pattern Group in a report on Monday, June 29th. Nine 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

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.