Patria Investments (NYSE:PAX) Reaches New 1-Year Low – Here’s What Happened

Patria Investments Limited (NYSE:PAX) shares hit a new 52-week low during trading on Monday . The stock traded as low as $10.42 and last traded at $10.4590, with a volume of 155099 shares traded. The stock had previously closed at $10.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Zacks Research upgraded Patria Investments from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Bank of America lowered Patria Investments from a “neutral” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research note on Wednesday, September 9th. JPMorgan Chase & Co. reduced their target price on Patria Investments from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup downgraded shares of Patria Investments to an “underperform” rating in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company set a $10.00 price target on shares of Patria Investments in a report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $12.75.

Patria Investments Trading Down 1.5%

The firm has a 50-day moving average of $11.18 and a 200 day moving average of $11.65. The company has a market cap of $696.16 million, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.

Patria Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 10th will be paid a $0.1625 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.65 annualized dividend and a yield of 6.2%. Patria Investments’s payout ratio is 147.73%.

Insider Activity

In other news, CEO Marco D’Ippolito sold 7,004 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $11.29, for a total transaction of $79,075.16. Following the completion of the sale, the chief executive officer owned 443,178 shares of the company’s stock, valued at $5,003,479.62. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 58.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PAX. Renaissance Technologies LLC bought a new stake in Patria Investments in the first quarter valued at $2,971,000. Y Intercept Hong Kong Ltd bought a new position in shares of Patria Investments during the 1st quarter worth about $1,197,000. SEB Asset Management AB bought a new position in shares of Patria Investments during the 1st quarter worth about $5,465,000. Bank of New York Mellon Corp acquired a new stake in shares of Patria Investments in the 2nd quarter valued at about $1,991,000. Finally, Globeflex Capital L P acquired a new stake in shares of Patria Investments in the 2nd quarter valued at about $597,000. 96.27% of the stock is owned by institutional investors.

About Patria Investments

Patria Investments Limited (NYSE: PAX) is an alternative asset management firm focused on investment opportunities in Latin America and other emerging markets. The company serves institutional investors, family offices, sovereign wealth funds and other clients seeking exposure to private-market investments.

Patria manages a range of investment strategies, including private equity, infrastructure, credit, growth capital, venture capital and real estate. Its activities include raising and managing investment funds, identifying opportunities, providing capital to businesses and projects, and supporting portfolio companies through operational and strategic initiatives.

Founded in Brazil in 1988, Patria has expanded its operations across Latin America and maintains a broader international presence to serve global investors.