Pattern Group Inc. $PTRN Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in shares of Pattern Group Inc. (NASDAQ:PTRN) by 43.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 102,721 shares of the company’s stock after acquiring an additional 31,223 shares during the period. Sei Investments Co.’s holdings in Pattern Group were worth $1,277,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Pattern Group during the third quarter worth $20,640,000. Blair William & Co. IL purchased a new position in shares of Pattern Group in the third quarter valued at $253,000. Legal & General Group Plc acquired a new stake in Pattern Group during the 3rd quarter valued at $411,000. UBS Group AG purchased a new stake in Pattern Group during the 3rd quarter worth $7,578,000. Finally, Comerica Bank purchased a new stake in Pattern Group during the 3rd quarter worth $890,000.

Pattern Group Stock Up 5.9%

Shares of Pattern Group stock opened at $22.36 on Wednesday. The business has a 50-day moving average price of $23.77 and a 200 day moving average price of $17.10. Pattern Group Inc. has a fifty-two week low of $8.92 and a fifty-two week high of $29.80. The firm has a market cap of $3.48 billion and a P/E ratio of -13.00.

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

Insider Transactions at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 31,509 shares in the company, valued at $520,213.59. This trade represents 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 this hyperlink. 70.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. KeyCorp boosted their price target on Pattern Group from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Evercore restated an “outperform” rating and set a $29.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. Jefferies Financial Group lowered Pattern Group from a “buy” rating to a “hold” rating and upped their target price for the company from $21.00 to $30.00 in a research report on Tuesday, July 14th. Needham & Company LLC increased their target price on Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

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.