Patria Investments (NYSE:PAX) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

Patria Investments (NYSE:PAX) had its target price cut by research analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.58% from the stock’s current price.

Several other research analysts have also commented on PAX. Zacks Research upgraded shares of Patria Investments from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Citigroup lowered shares of Patria Investments to an “underperform” rating in a report on Wednesday, September 9th. Bank of America cut shares of Patria Investments from a “neutral” rating to an “underperform” rating and set a $10.00 price target for the company. in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company set a $10.00 price objective on Patria Investments in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $12.75.

Patria Investments Trading Down 1.7%

NYSE:PAX traded down $0.19 during trading hours on Thursday, reaching $10.44. 599,783 shares of the company were exchanged, compared to its average volume of 991,604. The stock has a 50 day simple moving average of $11.18 and a 200 day simple moving average of $11.65. Patria Investments has a 52-week low of $10.39 and a 52-week high of $17.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $694.17 million, a price-to-earnings ratio of 20.87, a PEG ratio of 1.28 and a beta of 0.76.

Insider Activity

In other Patria Investments news, CEO of Global Private Markets Marco D’Ippolito sold 7,004 shares of the stock in a transaction 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 transaction, the insider directly owned 443,178 shares in the company, valued at $5,003,479.62. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 58.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAX. Renaissance Technologies LLC acquired a new position in Patria Investments during the first quarter valued at $2,971,000. Y Intercept Hong Kong Ltd bought a new position in Patria Investments during the 1st quarter worth $1,197,000. SEB Asset Management AB acquired a new position in Patria Investments in the 1st quarter worth about $5,465,000. Bank of New York Mellon Corp bought a new stake in Patria Investments in the second quarter worth approximately $1,991,000. Finally, Globeflex Capital L P bought a new position in shares of Patria Investments in the second quarter valued at approximately $597,000. Institutional investors and hedge funds own 96.27% of the company’s stock.

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.