Key Points
- Director Ann Mather sold 5,301 shares of Pattern Group at an average price of $16.51, totaling about $87,520. After the sale, she still owned 31,509 shares valued at roughly $520,214.
- Pattern Group recently beat quarterly expectations, reporting EPS of $0.16 versus the $0.10 consensus and revenue of $773.73 million, up 43.2% year over year.
- The company also has a $100 million share repurchase program in place, while analysts currently rate the stock a “Moderate Buy” with an average price target of $20.67.
Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) Director Ann Mather sold 5,301 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 31,509 shares of the company's stock, valued at approximately $520,213.59. The trade was a 14.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Pattern Group Price Performance
Shares of PTRN opened at $17.57 on Tuesday. The company has a market capitalization of $2.73 billion and a P/E ratio of -9.40. Pattern Group Inc. has a one year low of $8.92 and a one year high of $20.10. The business's 50 day simple moving average is $13.18 and its 200-day simple moving average is $13.39.
Pattern Group (NASDAQ:PTRN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $773.73 million during the quarter, compared to analyst estimates of $715.90 million. The firm's revenue was up 43.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, sell-side analysts anticipate that Pattern Group Inc. will post 0.56 EPS for the current fiscal year.
Pattern Group declared that its Board of Directors has approved a stock repurchase program on Thursday, March 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Sylebra Capital LLC bought a new position in Pattern Group in the 1st quarter worth approximately $1,971,000. Weiss Asset Management LP bought a new position in Pattern Group in the 1st quarter worth approximately $3,212,000. Public Employees Retirement System of Ohio raised its position in Pattern Group by 44.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 118,097 shares of the company's stock worth $1,468,000 after purchasing an additional 36,539 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Pattern Group in the 1st quarter worth approximately $561,000. Finally, Sei Investments Co. raised its position in Pattern Group by 43.7% in the 1st quarter. Sei Investments Co. now owns 102,721 shares of the company's stock worth $1,277,000 after purchasing an additional 31,223 shares during the last quarter.
Analysts Set New Price Targets
Several research analysts have recently commented on PTRN shares. Weiss Ratings reissued a "sell (d)" rating on shares of Pattern Group in a report on Monday, March 23rd. Wall Street Zen raised Pattern Group from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Robert W. Baird reduced their target price 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 reduced their target price on Pattern Group from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Finally, Needham & Company LLC boosted their target price on Pattern Group from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Ten investment 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. Based on data from MarketBeat, Pattern Group has a consensus rating of "Moderate Buy" and an average target price of $20.67.
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Pattern Group Company Profile
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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.
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