Pattern Group Inc. $PTRN Shares Newly Acquired by ProShare Advisors LLC

ProShare Advisors LLC acquired a new position in Pattern Group Inc. (NASDAQ:PTRN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 104,048 shares of the company’s stock, valued at approximately $1,785,000. ProShare Advisors LLC owned approximately 0.07% of Pattern Group as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Sterling Capital Management LLC grew its position in Pattern Group by 1,400.9% during the third quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock worth $29,000 after buying an additional 1,597 shares in the last quarter. State of Wyoming acquired a new position in Pattern Group in the third quarter valued at about $106,000. State of Alaska Department of Revenue acquired a new position in Pattern Group in the third quarter valued at about $148,000. Arizona State Retirement System bought a new stake in Pattern Group during the second quarter worth about $226,000. Finally, Corient Private Wealth LP bought a new stake in Pattern Group during the second quarter worth about $261,000.

Pattern Group Trading Up 5.9%

Pattern Group stock traded up $1.02 during midday trading on Friday, reaching $18.27. The company’s stock had a trading volume of 1,527,613 shares, compared to its average volume of 1,171,843. The stock has a market cap of $2.84 billion, a PE ratio of 28.11 and a beta of 1.29. Pattern Group Inc. has a 52 week low of $8.92 and a 52 week high of $29.80. The business has a 50-day moving average price of $18.25 and a 200-day moving average price of $17.60.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $885.85 million for the quarter. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.19) earnings per share. As a group, research analysts predict that Pattern Group Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird set a $26.00 target price on shares of Pattern Group in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Pattern Group from a “buy” rating to a “hold” rating in a report on Saturday. Evercore reiterated an “outperform” rating and set a $29.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. Jefferies Financial Group cut shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $21.00 to $30.00 in a research note on Tuesday, July 14th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $28.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

About Pattern Group

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.