Patria Investments (NYSE:PAX) Sets New 52-Week Low – Here’s Why

Patria Investments Limited (NYSE:PAX) shares hit a new 52-week low on Tuesday. The company traded as low as $9.03 and last traded at $9.1550, with a volume of 337,006 shares traded. The stock had previously closed at $9.40.

Wall Street Analysts Forecast Growth

PAX has been the topic of a number of analyst reports. Wells Fargo & Company set a $10.00 target price on Patria Investments in a report on Wednesday, September 9th. Zacks Research lowered Patria Investments from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Citigroup cut Patria Investments to an “underperform” rating in a research report on Wednesday, September 9th. JPMorgan Chase & Co. cut their target price on shares of Patria Investments from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, September 10th. Finally, Bank of America lowered shares of Patria Investments from a “neutral” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Patria Investments has an average rating of “Reduce” and a consensus target price of $12.75.

Patria Investments Stock Down 1.5%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $639.29 million, a PE ratio of 19.22, a PEG ratio of 1.28 and a beta of 0.81. The firm has a fifty day simple moving average of $10.74 and a 200 day simple moving average of $11.87.

Patria Investments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be given a $0.1625 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.65 annualized dividend and a dividend yield of 6.8%. Patria Investments’s dividend payout ratio (DPR) is currently 185.71%.

Hedge Funds Weigh In On Patria Investments

Large investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA increased its position in Patria Investments by 6.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 76,867 shares of the company’s stock worth $780,000 after purchasing an additional 4,846 shares in the last quarter. CenterBook Partners LP purchased a new position in Patria Investments in the third quarter valued at approximately $653,000. Inscription Capital LLC acquired a new position in Patria Investments during the third quarter valued at approximately $145,000. AdvisorNet Financial Inc lifted its position in Patria Investments by 58.2% during the third quarter. AdvisorNet Financial Inc now owns 28,765 shares of the company’s stock valued at $292,000 after buying an additional 10,580 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Patria Investments during the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.

Patria Investments Company Profile

Patria Investments (NYSE: PAX) is a global alternative asset management firm focused on investing in private markets. The company manages capital on behalf of institutional investors, family offices, and other clients through strategies that include private equity, infrastructure, credit, growth capital, venture capital, and real estate.

Founded in Brazil in 1988, Patria has developed extensive experience investing in Latin America and has expanded its platform to serve clients and pursue opportunities across North America, Europe, and other international markets.