Renaissance Technologies LLC Lowers Stake in Pattern Group Inc. $PTRN

Renaissance Technologies LLC lessened its stake in Pattern Group Inc. (NASDAQ:PTRN) by 87.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,551 shares of the company’s stock after selling 123,300 shares during the period. Renaissance Technologies LLC’s holdings in Pattern Group were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Clearstead Advisors LLC raised its holdings in Pattern Group by 222.0% during the fourth 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 acquired a new stake in shares of Pattern Group in the first quarter valued at approximately $40,000. Federation des caisses Desjardins du Quebec purchased a new position in Pattern Group during the fourth quarter worth $58,000. Susquehanna International Group LLP acquired a new position in Pattern Group in the 3rd quarter valued at about $137,000. Finally, Jacobs Equity LLC acquired a new position in shares of Pattern Group in the fourth quarter valued at approximately $151,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $28.00 price target on shares of Pattern Group in a report on Thursday, August 6th. Robert W. Baird set a $26.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th. Wall Street Zen upgraded Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group lowered shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $21.00 to $30.00 in a research note on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pattern Group has an average rating of “Moderate Buy” and an average price target of $27.00.

Pattern Group Stock Up 0.3%

PTRN stock opened at $20.72 on Thursday. The company has a 50-day simple moving average of $23.93 and a 200 day simple moving average of $17.36. The company has a market capitalization of $3.23 billion and a P/E ratio of -12.05. Pattern Group Inc. has a fifty-two week low of $8.92 and a fifty-two week high of $29.80.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%.The company had revenue of $876.77 million for the quarter. Equities analysts anticipate that Pattern Group Inc. will post 0.6 EPS for the current year.

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.