Wasatch Advisors LP Buys 692,735 Shares of Pattern Group Inc. $PTRN

Wasatch Advisors LP increased its stake in Pattern Group Inc. (NASDAQ:PTRN) by 28.4% in the 2nd quarter, Holdings Channel reports. The firm owned 3,135,129 shares of the company’s stock after purchasing an additional 692,735 shares during the period. Wasatch Advisors LP’s holdings in Pattern Group were worth $78,974,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PTRN. Knox Lane LP bought a new position in shares of Pattern Group in the fourth quarter valued at approximately $325,157,000. Norges Bank acquired a new position in Pattern Group in the 4th quarter valued at $25,965,000. Loomis Sayles & Co. L P grew its position in shares of Pattern Group by 28.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,135,163 shares of the company’s stock valued at $24,640,000 after purchasing an additional 476,122 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Pattern Group by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,101,545 shares of the company’s stock valued at $25,723,000 after buying an additional 23,589 shares during the last quarter. Finally, Vanguard Group Inc. bought a new position in Pattern Group in the 3rd quarter worth approximately $20,640,000.

Insider Transactions at Pattern Group

In other Pattern Group news, Director Ann Mather sold 5,301 shares of Pattern Group 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 completion of the transaction, the director directly owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 70.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PTRN shares. The Goldman Sachs Group restated a “buy” rating and set a $31.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. Jefferies Financial Group downgraded Pattern Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. BMO Capital Markets reissued an “outperform” rating and set a $28.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. Evercore restated an “outperform” rating and set a $29.00 price objective on shares of Pattern Group in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $26.00 target price on Pattern Group in a research note on Thursday, August 6th. Nine 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Pattern Group Stock Up 5.9%

NASDAQ:PTRN opened at $22.36 on Wednesday. Pattern Group Inc. has a 12-month low of $8.92 and a 12-month high of $29.80. The firm has a market capitalization of $3.48 billion and a PE ratio of -13.00. The firm has a 50-day moving average price of $23.77 and a 200 day moving average price of $17.10.

Pattern Group (NASDAQ:PTRN) last announced its quarterly 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 firm had revenue of $876.77 million during the quarter. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 475.61%. On average, research analysts expect 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.