Pattern Group (NASDAQ:PTRN) Reaches New 12-Month High – Time to Buy?

Pattern Group Inc. (NASDAQ:PTRN)’s stock price reached a new 52-week high on Monday . The company traded as high as $29.63 and last traded at $28.6010, with a volume of 1731 shares changing hands. The stock had previously closed at $28.95.

Analyst Ratings Changes

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

Pattern Group Stock Performance

The company has a market capitalization of $4.36 billion and a price-to-earnings ratio of -15.02. The business’s 50 day moving average is $21.06 and its 200 day moving average is $15.50.

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

Insider Buying and Selling at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $16.51, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 70.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pattern Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTRN. Clearstead Advisors LLC grew 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 valued at $27,000 after purchasing an additional 1,636 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Pattern Group in the first quarter valued at about $40,000. Federation des caisses Desjardins du Quebec purchased a new position in shares of Pattern Group in the fourth quarter worth about $58,000. FNY Investment Advisers LLC purchased a new position in shares of Pattern Group in the third quarter worth about $137,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Pattern Group during the third quarter worth about $137,000.

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.