Pattern Group Inc. $PTRN Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC reduced its stake in shares of Pattern Group Inc. (NASDAQ:PTRN) by 56.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 214,926 shares of the company’s stock after selling 283,853 shares during the quarter. Pattern Group makes up 1.3% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 17th largest position. Grandeur Peak Global Advisors LLC’s holdings in Pattern Group were worth $5,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTRN. Knox Lane LP purchased a new stake in Pattern Group in the 4th quarter valued at approximately $325,157,000. Norges Bank purchased a new position in Pattern Group during the fourth quarter worth $25,965,000. Wasatch Advisors LP acquired a new position in shares of Pattern Group in the fourth quarter worth $23,144,000. Vanguard Group Inc. acquired a new position in shares of Pattern Group in the third quarter worth $20,640,000. Finally, Woodline Partners LP purchased a new stake in shares of Pattern Group in the third quarter valued at $19,678,000.

Wall Street Analyst Weigh In

PTRN has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. KeyCorp upped their target price on shares of Pattern Group from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $31.00 price target on shares of Pattern Group in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group lowered shares of Pattern Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $21.00 to $30.00 in a research report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Pattern Group Price Performance

PTRN stock opened at $21.17 on Monday. The stock has a market capitalization of $3.30 billion and a price-to-earnings ratio of -12.31. Pattern Group Inc. has a 52-week low of $8.92 and a 52-week high of $29.80. The stock’s fifty day simple moving average is $24.01 and its 200-day simple moving average is $17.77.

Pattern Group (NASDAQ:PTRN) last released its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $876.77 million during the quarter. As a group, analysts anticipate that Pattern Group Inc. will post 0.6 earnings per share for the current fiscal year.

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.