Pattern Group (NASDAQ:PTRN – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02, FiscalAI reports. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%. The company had revenue of $885.85 million during the quarter. During the same quarter in the previous year, the company posted ($2.19) earnings per share. The company’s revenue was up 38.5% on a year-over-year basis.
Pattern Group Price Performance
Pattern Group stock traded up $1.02 during mid-day trading on Friday, hitting $18.27. 1,527,613 shares of the company were exchanged, compared to its average volume of 1,171,843. Pattern Group has a 12-month low of $8.92 and a 12-month high of $29.80. The business’s 50 day simple moving average is $18.25 and its two-hundred day simple moving average is $17.60. The company has a market capitalization of $2.84 billion, a P/E ratio of 28.11 and a beta of 1.29.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Pattern Group by 28.4% in the 2nd quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock valued at $78,974,000 after purchasing an additional 692,735 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Pattern Group by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,101,545 shares of the company’s stock valued at $25,723,000 after buying an additional 23,589 shares during the last quarter. Readystate Asset Management LP raised its position in shares of Pattern Group by 363.9% in the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock valued at $5,365,000 after buying an additional 167,053 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Pattern Group by 237.9% during the third quarter. Russell Investments Group Ltd. now owns 274,906 shares of the company’s stock worth $4,700,000 after acquiring an additional 193,559 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Pattern Group during the first quarter worth approximately $3,212,000.
Analyst Upgrades and Downgrades
PTRN has been the subject of a number of research analyst reports. Robert W. Baird set a $26.00 price target on Pattern Group in a report on Thursday, August 6th. Weiss Ratings raised Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. KeyCorp reduced their price objective on shares of Pattern Group from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Jefferies Financial Group cut shares of Pattern Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $21.00 to $30.00 in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on Pattern Group from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pattern Group has an average rating of “Moderate Buy” and a consensus price target of $27.89.
View Our Latest Analysis on Pattern Group
Pattern Group Company Profile
Pattern Group Inc (NASDAQ: PTRN) is an e-commerce technology and services company that helps brands grow and manage their online businesses. Its platform combines software, data, and operational services to support product distribution and sales across major digital marketplaces, retailer websites, and other e-commerce channels.
The company’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and assortment strategy, fulfillment coordination, and analytics.
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