Patria Investments (NYSE:PAX) Sees Strong Trading Volume – Here’s Why

Patria Investments Limited (NYSE:PAX) saw unusually-high trading volume on Friday . Approximately 1,122,793 shares changed hands during trading, an increase of 141% from the previous session’s volume of 465,441 shares.The stock last traded at $11.96 and had previously closed at $12.15.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lowered their price objective on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd.

Patria Investments Trading Down 1.6 %

The firm has a market capitalization of $714.81 million, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The business’s 50 day moving average price is $11.67 and its 200-day moving average price is $12.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.88.

Patria Investments (NYSE:PAX) last released its earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $78.10 million for the quarter, compared to analyst estimates of $76.55 million. Patria Investments had a return on equity of 34.00% and a net margin of 19.68%. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts forecast that Patria Investments Limited will post 1.05 EPS for the current fiscal year.

Patria Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Monday, November 18th. Patria Investments’s payout ratio is 139.53%.

Institutional Investors Weigh In On Patria Investments

Several institutional investors have recently made changes to their positions in PAX. FMR LLC lifted its stake in shares of Patria Investments by 8.8% in the third quarter. FMR LLC now owns 5,976,699 shares of the company’s stock valued at $66,760,000 after purchasing an additional 483,675 shares during the period. American Century Companies Inc. increased its holdings in Patria Investments by 19.1% in the second quarter. American Century Companies Inc. now owns 2,424,862 shares of the company’s stock valued at $29,244,000 after buying an additional 389,331 shares in the last quarter. State Street Corp lifted its position in shares of Patria Investments by 21.7% during the 3rd quarter. State Street Corp now owns 1,165,331 shares of the company’s stock valued at $13,017,000 after acquiring an additional 208,039 shares during the period. Millennium Management LLC boosted its stake in shares of Patria Investments by 42.2% during the 2nd quarter. Millennium Management LLC now owns 976,337 shares of the company’s stock worth $11,775,000 after acquiring an additional 289,830 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Patria Investments by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 680,447 shares of the company’s stock worth $7,601,000 after acquiring an additional 5,187 shares during the period. 96.27% of the stock is currently owned by hedge funds and other institutional investors.

Patria Investments Company Profile

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.