Pattern Group Inc. (NASDAQ:PTRN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pattern Group Inc. (NASDAQ:PTRN) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.6667.

Several equities analysts have recently weighed in on PTRN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a report on Monday, March 23rd. Robert W. Baird lowered their price target on Pattern Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Stifel Nicolaus lowered their price target on Pattern Group from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Needham & Company LLC increased their price target on Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th.

Pattern Group Price Performance

NASDAQ PTRN opened at $18.97 on Wednesday. The business’s fifty day moving average price is $13.99 and its 200-day moving average price is $13.43. The stock has a market capitalization of $2.94 billion and a price-to-earnings ratio of -10.14. Pattern Group has a 1-year low of $8.92 and a 1-year high of $20.10.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings results 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 firm 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 period in the previous year, the company earned $0.17 earnings per share. Equities research analysts anticipate that Pattern Group will post 0.56 EPS for the current year.

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

Insider Buying and Selling at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 70.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Pattern Group

Several hedge funds and other institutional investors have recently modified their holdings of PTRN. Knox Lane LP purchased a new stake in shares of Pattern Group in the 4th quarter worth $325,157,000. Norges Bank purchased a new stake in shares of Pattern Group in the 4th quarter worth $25,965,000. Wasatch Advisors LP purchased a new stake in shares of Pattern Group in the 4th quarter worth $23,144,000. Capital World Investors purchased a new stake in shares of Pattern Group in the 3rd quarter worth $23,975,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Pattern Group in the 3rd quarter worth $20,640,000.

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.