Capelight Capital Asset Management LP Makes New $923,000 Investment in Pattern Group Inc. $PTRN

Key Points

• Capelight Capital initiated a new position in Pattern Group (NASDAQ:PTRN), buying 80,000 shares worth about $923,000 in Q4, representing roughly 0.05% of Pattern and about 0.8% of Capelight’s holdings (its 27th largest holding).
• Pattern reported a Q that beat estimates — $0.16 EPS vs. $0.12 expected and $723.1M revenue (up 40.3% year-over-year) — and its board authorized a $100 million stock repurchase plan to buy up to 5.6% of shares.
• Multiple large institutional investors (Allspring, Capital World, Vanguard, Woodline, Alyeska) have recently built stakes, and analysts show a consensus “Moderate Buy” with a $20.22 price target despite mixed individual ratings.

Capelight Capital Asset Management LP acquired a new position in shares of Pattern Group Inc. (NASDAQ:PTRN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 80,000 shares of the company's stock, valued at approximately $923,000. Pattern Group accounts for about 0.8% of Capelight Capital Asset Management LP's holdings, making the stock its 27th biggest holding. Capelight Capital Asset Management LP owned 0.05% of Pattern Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Pattern Group by 8.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,077,956 shares of the company's stock worth $23,896,000 after buying an additional 169,297 shares during the period. Capital World Investors purchased a new stake in shares of Pattern Group during the third quarter valued at $23,975,000. Vanguard Group Inc. purchased a new stake in shares of Pattern Group during the third quarter valued at $20,640,000. Woodline Partners LP purchased a new stake in shares of Pattern Group during the third quarter valued at $19,678,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Pattern Group during the third quarter valued at $15,755,000.

Pattern Group Price Performance

PTRN stock opened at $13.36 on Wednesday. The business has a 50-day moving average price of $11.57 and a 200 day moving average price of $13.36. The company has a market capitalization of $2.07 billion and a P/E ratio of -6.58. Pattern Group Inc. has a 1-year low of $8.92 and a 1-year high of $20.10.

Pattern Group (NASDAQ:PTRN - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $723.10 million during the quarter, compared to the consensus estimate of $691.35 million. The business's quarterly revenue was up 40.3% compared to the same quarter last year.

Pattern Group announced that its board has authorized a stock repurchase plan on Thursday, March 5th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PTRN shares. Weiss Ratings reissued a "sell (d)" rating on shares of Pattern Group in a research note on Monday, March 23rd. JPMorgan Chase & Co. lowered their target price on shares of Pattern Group from $21.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, March 6th. Needham & Company LLC reissued a "buy" rating and set a $22.00 target price on shares of Pattern Group in a research note on Thursday, January 15th. Stifel Nicolaus lowered their target price on shares of Pattern Group from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Finally, Robert W. Baird lowered their target price on shares of Pattern Group from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Ten 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. Based on data from MarketBeat, Pattern Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.22.

Pattern Group 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.

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