Patria Investments (NYSE:PAX) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Patria Investments to “strong sell” from “hold,” while other analysts also turned more negative. The stock has an average “Reduce” rating and an average price target of $12.75.
• Patria shares opened at $10.24, down 2.3%, near their 52-week low of $10.23 and below both their 50-day and 200-day moving averages.
• An executive sold 7,004 shares for approximately $79,000, while institutional investors and hedge funds collectively own 96.27% of the company.

Patria Investments (NYSE:PAX - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages also recently issued reports on PAX. Wells Fargo & Company set a $10.00 target price on shares of Patria Investments in a research note on Wednesday, September 9th. Bank of America cut Patria Investments from a "neutral" rating to an "underperform" rating and set a $10.00 target price for the company. in a research report on Wednesday, September 9th. JPMorgan Chase & Co. lowered their price target 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, Citigroup lowered Patria Investments to an "underperform" rating 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. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $12.75.

Patria Investments Stock Down 2.3%

Shares of NYSE:PAX opened at $10.24 on Monday. The firm has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $11.61. Patria Investments has a 52 week low of $10.23 and a 52 week high of $17.80. 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 $681.20 million, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76.

Insider Transactions at Patria Investments

In other Patria Investments news, CEO of Global Private Markets Marco D'Ippolito sold 7,004 shares of Patria Investments 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 completion of the sale, the insider owned 443,178 shares of the company's stock, valued at $5,003,479.62. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 58.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Patria Investments

A number of hedge funds have recently modified their holdings of PAX. Zeno Equity Partners LLP acquired a new stake in Patria Investments during the fourth quarter valued at $9,386,000. SEB Asset Management AB acquired a new position in Patria Investments in the 1st quarter worth about $5,465,000. Globeflex Capital L P raised its stake in shares of Patria Investments by 12.4% during the 1st quarter. Globeflex Capital L P now owns 298,500 shares of the company's stock worth $3,761,000 after purchasing an additional 32,947 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Patria Investments by 2.9% during the 1st quarter. Bank of America Corp DE now owns 246,552 shares of the company's stock worth $3,107,000 after purchasing an additional 6,865 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Patria Investments during the 1st quarter valued at about $2,971,000. 96.27% of the stock is owned by institutional investors and hedge funds.

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.

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