Pattern Group Inc. (NASDAQ:PTRN) Short Interest Update

Pattern Group Inc. (NASDAQ:PTRN) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,321,456 shares, an increase of 115.5% from the June 15th total of 2,005,197 shares. Currently, 9.6% of the shares of the company are sold short. Based on an average daily volume of 3,432,871 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PTRN. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Jefferies Financial Group cut Pattern Group from a “buy” rating to a “hold” rating and upped their price target for the company from $21.00 to $30.00 in a report on Tuesday. Needham & Company LLC lifted their price objective on Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and set a $27.00 price objective on shares of Pattern Group in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. raised their target price on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Pattern Group Trading Up 4.5%

NASDAQ:PTRN traded up $1.25 during mid-day trading on Wednesday, hitting $29.33. The company’s stock had a trading volume of 885,065 shares, compared to its average volume of 1,382,430. The company has a market capitalization of $4.55 billion and a price-to-earnings ratio of -15.70. Pattern Group has a fifty-two week low of $8.92 and a fifty-two week high of $29.63. The stock has a fifty day moving average of $21.06 and a 200-day moving average of $15.50.

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

Insider Buying and Selling

In other Pattern Group news, Director Ann Mather sold 5,301 shares of the stock in a transaction 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 completion of the sale, the director directly owned 31,509 shares of the company’s stock, valued at $520,213.59. This represents a 14.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 70.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pattern Group

Several large investors have recently made changes to their positions in PTRN. Clearstead Advisors LLC grew its position 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 last quarter. Roxbury Financial LLC bought a new position in Pattern Group in the 1st quarter worth approximately $40,000. Federation des caisses Desjardins du Quebec acquired a new position in shares of Pattern Group during the fourth quarter valued at $58,000. FNY Investment Advisers LLC bought a new position in Pattern Group in the third quarter valued at about $137,000. Finally, Susquehanna International Group LLP bought a new stake in Pattern Group during the 3rd quarter worth about $137,000.

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.