Monashee Investment Management LLC Takes $2.06 Million Position in Pattern Group Inc. $PTRN

Monashee Investment Management LLC bought a new position in Pattern Group Inc. (NASDAQ:PTRN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 150,000 shares of the company’s stock, valued at approximately $2,055,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in Pattern Group during the 3rd quarter valued at $89,000. SG Americas Securities LLC purchased a new position in shares of Pattern Group in the third quarter valued at about $168,000. Greenland Capital Management LP purchased a new position in shares of Pattern Group in the third quarter valued at about $174,000. Federated Hermes Inc. bought a new position in shares of Pattern Group during the third quarter valued at about $247,000. Finally, Copia Wealth Management purchased a new stake in shares of Pattern Group during the third quarter worth about $294,000.

Wall Street Analyst Weigh In

PTRN has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Pattern Group from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on Pattern Group from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. BMO Capital Markets boosted their target price on Pattern Group from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Evercore set a $23.00 price target on Pattern Group and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Pattern Group in a report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Price Performance

PTRN stock opened at $10.53 on Friday. Pattern Group Inc. has a fifty-two week low of $8.92 and a fifty-two week high of $20.10. The stock has a market cap of $1.63 billion and a P/E ratio of -4.81. The stock’s 50 day moving average price is $12.51.

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.