Patria Investments (NYSE:PAX) Cut to Underperform at Bank of America

Bank of America lowered shares of Patria Investments (NYSE:PAX) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm currently has $10.00 price objective on the stock.

Several other research firms also recently commented on PAX. Zacks Research upgraded Patria Investments from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Citigroup cut Patria Investments to an “underperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $12.75.

Patria Investments Stock Performance

Shares of NYSE:PAX opened at $10.62 on Wednesday. The firm’s 50 day simple moving average is $11.18 and its 200-day simple moving average is $11.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Patria Investments has a one year low of $10.55 and a one year high of $17.80. The firm has a market cap of $706.47 million, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76.

Patria Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 10th will be issued a $0.1625 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.65 annualized dividend and a dividend yield of 6.1%. Patria Investments’s payout ratio is currently 147.73%.

Insider Activity at Patria Investments

In other news, CEO Marco D’Ippolito sold 7,004 shares of the company’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 value 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 approximately $5,003,479.62. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 58.10% of the company’s stock.

Hedge Funds Weigh In On Patria Investments

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new stake in Patria Investments during the 1st quarter valued at $2,971,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Patria Investments in the 1st quarter valued at $1,197,000. SEB Asset Management AB bought a new position in shares of Patria Investments in the 1st quarter worth $5,465,000. Bank of New York Mellon Corp bought a new position in shares of Patria Investments in the 2nd quarter worth $1,991,000. Finally, Globeflex Capital L P raised its position in shares of Patria Investments by 36.9% in the 4th quarter. Globeflex Capital L P now owns 265,553 shares of the company’s stock worth $4,220,000 after acquiring an additional 71,625 shares in the last quarter. 96.27% of the stock is owned by hedge funds and other institutional investors.

Patria Investments Company Profile

Patria Investments Limited (NYSE: PAX) is a Brazil-based alternative asset management firm specializing in private equity, infrastructure, real estate and credit investments. Since its founding in 1988, the firm has focused on identifying and partnering with high-potential companies and projects across Latin America. Patria’s investment approach combines local market expertise with global best practices to structure and manage portfolios that aim to deliver long-term value to institutional and high-net-worth clients.

The company’s core business activities include private equity funds targeting mid-market and large-cap buyouts, infrastructure funds investing in essential assets such as energy and transportation, real estate strategies encompassing residential, commercial and logistics properties, and credit funds that provide financing solutions across the capital structure.