CenterBook Partners LP purchased a new stake in Patria Investments Limited (NYSE:PAX – Free Report) during the third quarter, HoldingsChannel reports. The institutional investor purchased 64,364 shares of the company’s stock, valued at approximately $653,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Patria Investments during the 2nd quarter valued at approximately $27,000. AXQ Capital LP bought a new position in Patria Investments in the 2nd quarter valued at approximately $112,000. Inscription Capital LLC bought a new position in Patria Investments in the 3rd quarter valued at approximately $145,000. Cetera Investment Advisers bought a new position in Patria Investments in the 1st quarter valued at approximately $152,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Patria Investments in the second quarter valued at approximately $154,000. 96.27% of the stock is owned by institutional investors.
Patria Investments Stock Performance
NYSE:PAX opened at $9.69 on Thursday. The stock’s 50-day moving average is $10.56 and its 200-day moving average is $11.68. Patria Investments Limited has a 1-year low of $9.03 and a 1-year high of $17.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $644.61 million, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.28 and a beta of 0.81.
Patria Investments Announces Dividend
The firm 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 dividend of $0.1625 per share. The ex-dividend date is Friday, November 13th. This represents a $0.65 annualized dividend and a yield of 6.7%. Patria Investments’s dividend payout ratio (DPR) is currently 185.71%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on PAX. Bank of America cut shares of Patria Investments from a “neutral” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Wednesday, September 9th. Citigroup downgraded shares of Patria Investments to an “underperform” rating in a report on Wednesday, September 9th. Zacks Research cut Patria Investments from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. cut their price objective on Patria Investments from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. 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, one has given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Patria Investments has an average rating of “Reduce” and an average price target of $12.75.
Read Our Latest Research Report on PAX
Patria Investments Profile
Patria Investments is an alternative asset manager focused on private markets, with roots in Latin America. Founded in 1988, the firm has expanded its investment platform and serves institutional and other investors in the region and internationally. Its investment strategies include private equity, infrastructure, private credit, real estate and public equities. Patria also provides investment solutions designed to give clients access to these markets. Alexandre Saigh, a co-founder of the firm, serves as its chief executive officer.
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