Pattern Group (NASDAQ:PTRN) Trading Down 6.7% - Should You Sell?

Key Points

• Pattern Group shares fell 6.7% to about $21.30 in Friday’s trading, with volume 31% below the average session level.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $27 average price target, although Jefferies downgraded the stock to “Hold.”
• The company beat quarterly earnings expectations, reporting $0.15 EPS versus the $0.12 consensus and $876.77 million in revenue, but continues to post negative net margins and return on equity.

Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) shares fell 6.7% during mid-day trading on Friday . The company traded as low as $21.26 and last traded at $21.2990. 1,003,196 shares changed hands during trading, a decline of 31% from the average session volume of 1,450,876 shares. The stock had previously closed at $22.82.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group downgraded shares of Pattern Group from a "buy" rating to a "hold" rating and upped their price objective for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. Robert W. Baird set a $26.00 target price on Pattern Group in a report on Thursday, August 6th. BMO Capital Markets reissued an "outperform" rating and set a $28.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th. Weiss Ratings raised shares of Pattern Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Pattern Group from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

Pattern Group Price Performance

The stock has a market cap of $3.34 billion and a PE ratio of -12.47. The business has a fifty day moving average of $23.87 and a 200 day moving average of $17.21.

Pattern Group (NASDAQ:PTRN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. Pattern Group had a negative return on equity of 475.61% and a negative net margin of 4.57%.The company had revenue of $876.77 million for the quarter. On average, equities research analysts expect that Pattern Group Inc. will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Pattern Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in shares of Pattern Group in the 3rd quarter valued at approximately $20,640,000. Blair William & Co. IL purchased a new stake in shares of Pattern Group during the 3rd quarter worth about $253,000. Legal & General Group Plc acquired a new stake in Pattern Group in the third quarter valued at approximately $411,000. UBS Group AG acquired a new stake in shares of Pattern Group in the 3rd quarter valued at $7,578,000. Finally, Sei Investments Co. acquired a new stake in shares of Pattern Group in the third quarter worth about $654,000.

About Pattern Group

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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