UBS Group AG Sells 360,135 Shares of Pattern Group Inc. $PTRN

UBS Group AG cut its holdings in Pattern Group Inc. (NASDAQ:PTRN) by 65.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,002 shares of the company’s stock after selling 360,135 shares during the period. UBS Group AG’s holdings in Pattern Group were worth $2,227,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in Pattern Group in the 3rd quarter valued at $89,000. FNY Investment Advisers LLC bought a new position in Pattern Group in the 3rd quarter valued at $137,000. Susquehanna International Group LLP bought a new position in Pattern Group in the 3rd quarter valued at $137,000. SG Americas Securities LLC bought a new position in Pattern Group in the 3rd quarter valued at $168,000. Finally, Greenland Capital Management LP bought a new position in Pattern Group in the 3rd quarter valued at $174,000.

Pattern Group Stock Performance

Shares of NASDAQ PTRN opened at $18.68 on Thursday. The firm’s 50 day moving average price is $14.13 and its 200-day moving average price is $13.43. The company has a market cap of $2.90 billion and a PE ratio of -9.99. Pattern Group Inc. has a 52-week low of $8.92 and a 52-week high of $20.10.

Pattern Group (NASDAQ:PTRN) last issued its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm had revenue of $773.73 million during the quarter, compared to the consensus estimate of $715.90 million. The company’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. On average, analysts forecast that Pattern Group Inc. will post 0.56 earnings per share for the current fiscal year.

Pattern Group declared that its board has authorized a stock repurchase plan on Thursday, March 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Ann Mather sold 5,301 shares of the business’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 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 $520,213.59. The trade was a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 70.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC boosted their price target on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pattern Group currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.