Weiss Asset Management LP Takes $3.21 Million Position in Pattern Group Inc. $PTRN

Weiss Asset Management LP acquired a new stake in shares of Pattern Group Inc. (NASDAQ:PTRN) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 258,370 shares of the company’s stock, valued at approximately $3,212,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC increased its holdings in Pattern Group by 222.0% in the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after purchasing an additional 1,636 shares in the last quarter. Roxbury Financial LLC bought a new position in Pattern Group in the first quarter valued at about $40,000. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Pattern Group during the fourth quarter valued at about $58,000. Susquehanna International Group LLP acquired a new stake in shares of Pattern Group during the third quarter valued at about $137,000. Finally, Jacobs Equity LLC bought a new stake in shares of Pattern Group during the fourth quarter worth about $151,000.

Insider Buying and Selling at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction 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 transaction, the director owned 31,509 shares of the company’s stock, valued at $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 70.97% of the stock is currently owned by company insiders.

Pattern Group Price Performance

Shares of PTRN opened at $22.17 on Monday. The business has a 50-day moving average of $22.70 and a 200-day moving average of $16.32. The company has a market capitalization of $3.44 billion and a price-to-earnings ratio of -11.86. Pattern Group Inc. has a 1 year low of $8.92 and a 1 year high of $29.80.

Pattern Group (NASDAQ:PTRN) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $773.73 million for the quarter, compared to analyst estimates of $715.90 million. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, sell-side analysts anticipate that Pattern Group Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

PTRN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th. Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Needham & Company LLC raised their price target on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $27.00 price target on shares of Pattern Group in a report on Monday, June 29th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.89.

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.