Pattern Group (NASDAQ:PTRN) Sets New 1-Year Low – Time to Sell?

Pattern Group Inc. (NASDAQ:PTRN)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $11.37 and last traded at $11.48, with a volume of 197112 shares trading hands. The stock had previously closed at $11.89.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, December 18th. Stifel Nicolaus set a $22.00 target price on Pattern Group in a research report on Thursday, November 6th. KeyCorp raised their price target on Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Zacks Research upgraded shares of Pattern Group to a “hold” rating in a report on Wednesday, October 15th. Finally, Evercore ISI set a $23.00 price target on Pattern Group and gave the stock an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Pattern Group Trading Down 1.4%

The stock has a fifty day moving average of $14.89.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($2.19) earnings per share for the quarter, beating the consensus estimate of ($2.71) by $0.52. The firm had revenue of $639.66 million for the quarter, compared to analyst estimates of $570.78 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new position in shares of Pattern Group in the 3rd quarter worth approximately $89,000. FNY Investment Advisers LLC purchased a new position in shares of Pattern Group during the third quarter worth $137,000. Susquehanna International Group LLP acquired a new stake in shares of Pattern Group in the third quarter valued at $137,000. SG Americas Securities LLC purchased a new position in Pattern Group during the 3rd quarter valued at about $168,000. Finally, Greenland Capital Management LP acquired a new position in Pattern Group in the 3rd quarter valued at about $174,000.

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.