Readystate Asset Management LP Has $571,000 Position in Pattern Group Inc. $PTRN

Readystate Asset Management LP trimmed its stake in shares of Pattern Group Inc. (NASDAQ:PTRN) by 32.5% in the first quarter, Holdings Channel.com reports. The firm owned 45,911 shares of the company’s stock after selling 22,148 shares during the quarter. Readystate Asset Management LP’s holdings in Pattern Group were worth $571,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTRN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a report on Thursday, June 18th. Jefferies Financial Group cut Pattern Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $21.00 to $30.00 in a report on Tuesday, July 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $27.00 target price on shares of Pattern Group in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Pattern Group currently has a consensus rating of “Moderate Buy” and an average target price of $22.89.

Pattern Group Stock Performance

Shares of NASDAQ PTRN opened at $23.05 on Thursday. The firm has a 50 day moving average price of $23.03 and a two-hundred day moving average price of $16.51. The stock has a market cap of $3.58 billion and a P/E ratio of -12.33. Pattern Group Inc. has a 52-week low of $8.92 and a 52-week high of $29.80.

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

Insider Transactions at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of the firm’s 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 $520,213.59. This trade 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 hyperlink. 70.97% of the stock is currently owned by corporate insiders.

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.