Patria Investments (NYSE:PAX) Shares Gap Down After Analyst Downgrade

Patria Investments Limited (NYSE:PAX)’s share price gapped down before the market opened on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $15.00 to $13.00. The stock had previously closed at $11.20, but opened at $10.77. JPMorgan Chase & Co. currently has a neutral rating on the stock. Patria Investments shares last traded at $10.7250, with a volume of 529,142 shares changing hands.

Several other analysts also recently issued reports on PAX. Wells Fargo & Company set a $10.00 price target on Patria Investments in a report on Wednesday, September 9th. Bank of America downgraded shares of Patria Investments from a “neutral” rating to an “underperform” rating and set a $10.00 price target for the company. in a report on Wednesday, September 9th. Zacks Research raised shares of Patria Investments from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Citigroup cut Patria Investments to an “underperform” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $12.75.

Insider Activity

In related news, CEO of Global Private Markets Marco D’Ippolito sold 7,004 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $11.29, for a total value of $79,075.16. Following the completion of the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 58.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in Patria Investments in the second quarter valued at about $27,000. Squarepoint Ops LLC acquired a new stake in Patria Investments during the 2nd quarter worth approximately $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Patria Investments in the second quarter valued at approximately $227,000. California State Teachers Retirement System raised its holdings in shares of Patria Investments by 175.8% during the second quarter. California State Teachers Retirement System now owns 9,882 shares of the company’s stock worth $109,000 after acquiring an additional 6,299 shares during the period. Finally, AXQ Capital LP bought a new stake in Patria Investments in the 2nd quarter valued at $112,000. 96.27% of the stock is currently owned by institutional investors and hedge funds.

Patria Investments Stock Performance

The stock’s 50 day moving average is $11.18 and its two-hundred day moving average is $11.65. The stock has a market capitalization of $694.17 million, a price-to-earnings ratio of 20.87, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 10th will be issued a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 6.2%. The ex-dividend date is Monday, August 10th. Patria Investments’s dividend payout ratio is presently 147.73%.

Patria Investments Company Profile

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.