Pattern Group Inc. (NASDAQ:PTRN) Given Average Rating of “Moderate Buy” by Analysts

Pattern Group Inc. (NASDAQ:PTRN) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.00.

A number of brokerages have recently weighed in on PTRN. Needham & Company LLC boosted their price objective on shares of Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th. JPMorgan Chase & Co. lifted their price target on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating and issued a $29.00 price objective on shares of Pattern Group in a report on Thursday. Finally, Wall Street Zen upgraded Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.

Insider Transactions at Pattern Group

In other Pattern Group news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the sale, the director directly owned 31,509 shares in the company, valued at approximately $520,213.59. The trade was a 14.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 70.97% of the company’s stock.

Institutional Trading of Pattern Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PTRN. Bank of New York Mellon Corp acquired a new position in Pattern Group during the second quarter valued at $1,849,000. Wasatch Advisors LP lifted its holdings in shares of Pattern Group by 28.4% in the 2nd quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock valued at $78,974,000 after buying an additional 692,735 shares during the period. Sylebra Capital LLC purchased a new stake in shares of Pattern Group in the first quarter worth about $1,971,000. Weiss Asset Management LP purchased a new stake in shares of Pattern Group in the first quarter worth about $3,212,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Pattern Group by 44.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 118,097 shares of the company’s stock valued at $1,468,000 after purchasing an additional 36,539 shares in the last quarter.

Pattern Group Price Performance

PTRN stock opened at $22.05 on Monday. The firm has a 50 day moving average of $23.70 and a 200 day moving average of $16.98. The stock has a market capitalization of $3.43 billion and a PE ratio of -12.82. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80.

Pattern Group (NASDAQ:PTRN) last released its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $876.77 million for the quarter. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 475.61%. On average, equities research analysts expect that Pattern Group will post 0.6 earnings per share for the current year.

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.