Pattern Group (NASDAQ:PTRN) Shares Down 6.9% – Time to Sell?

by · The Markets Daily

Pattern Group Inc. (NASDAQ:PTRN – Get Free Report) shares were down 6.9% during mid-day trading on Thursday . The company traded as low as $18.04 and last traded at $18.0240. Approximately 587,818 shares traded hands during trading, a decline of 60% from the average daily volume of 1,470,025 shares. The stock had previously closed at $19.36.

Wall Street Analyst Weigh In

PTRN has been the topic of a number of recent research reports. KeyCorp upped their target price on Pattern Group from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group cut Pattern Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $21.00 to $30.00 in a report on Tuesday, July 14th. Robert W. Baird set a $26.00 price objective on Pattern Group in a research report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $31.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pattern Group currently has an average rating of “Moderate Buy” and an average price target of $27.00.

Get Our Latest Analysis on PTRN

Pattern Group Stock Performance

The company’s fifty day moving average price is $21.87 and its two-hundred day moving average price is $18.93. The firm has a market capitalization of $2.76 billion and a PE ratio of -10.19.

Pattern Group (NASDAQ:PTRN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $876.77 million for the quarter. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. On average, equities analysts expect that Pattern Group Inc. will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC grew its stake in Pattern Group by 222.0% during the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after buying an additional 1,636 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Pattern Group in the first quarter worth about $40,000. Arizona State Retirement System acquired a new stake in shares of Pattern Group in the second quarter valued at about $226,000. Corient Private Wealth LP acquired a new position in Pattern Group during the 2nd quarter worth approximately $261,000. Finally, Jacobs Equity LLC purchased a new position in Pattern Group in the 4th quarter worth approximately $151,000.

About Pattern Group

(Get Free Report)

Pattern Group Inc is an e-commerce technology and services company that helps brands grow and manage their businesses across online marketplaces and other digital retail channels. The company combines technology, data analytics and operational services to support brands throughout the e-commerce lifecycle, from marketplace strategy and product content to advertising, sales management and fulfillment.

Pattern Group’s services are designed to help consumer brands improve their digital presence, expand distribution and optimize performance on platforms such as Amazon and other major online marketplaces.

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