Weiss Asset Management LP Invests $3.21 Million in Pattern Group Inc. $PTRN

Weiss Asset Management LP purchased a new stake in Pattern Group Inc. (NASDAQ:PTRN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 258,370 shares of the company’s stock, valued at approximately $3,212,000. Weiss Asset Management LP owned 0.17% of Pattern Group at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PTRN. Clearstead Advisors LLC increased its stake in Pattern Group by 222.0% during the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after acquiring an additional 1,636 shares during the period. Roxbury Financial LLC bought a new stake in shares of Pattern Group during the 1st quarter valued at $40,000. Barclays PLC grew its holdings in shares of Pattern Group by 25.2% during the 4th quarter. Barclays PLC now owns 16,652 shares of the company’s stock worth $192,000 after purchasing an additional 3,352 shares in the last quarter. Federation des caisses Desjardins du Quebec bought a new position in shares of Pattern Group in the fourth quarter worth $58,000. Finally, Susquehanna International Group LLP bought a new position in shares of Pattern Group in the third quarter worth $137,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PTRN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, June 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $27.00 target price on shares of Pattern Group in a report on Monday, June 29th. Jefferies Financial Group cut shares of Pattern Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $21.00 to $30.00 in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Needham & Company LLC increased their price target on shares of Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.89.

Pattern Group Stock Performance

Pattern Group stock opened at $22.17 on Monday. Pattern Group Inc. has a 52 week low of $8.92 and a 52 week high of $29.80. The stock has a market capitalization of $3.44 billion and a P/E ratio of -11.86. The stock has a fifty day moving average of $22.70 and a 200-day moving average of $16.32.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. The business had revenue of $773.73 million during the quarter, compared to analyst estimates of $715.90 million. During the same period last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. On average, research analysts forecast that Pattern Group Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.51, for a total value of $87,519.51. Following the sale, the director directly owned 31,509 shares in the company, valued at approximately $520,213.59. This trade represents a 14.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 70.97% of the company’s stock.

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.