Adage Capital Partners GP L.L.C. Buys 141,842 Shares of Patria Investments Limited $PAX

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Patria Investments Limited by 9.6% in Q1, now holding 1,625,000 shares valued at $18.35 million.
• Patria Investments recently announced a quarterly dividend of $0.15 per share, yielding 4.3%, with eligibility for stockholders on record by August 15th.
• According to Zacks Research, Patria Investments was upgraded from a "strong sell" to a "hold" rating, with a current average rating of "Moderate Buy" and a consensus price target of $14.00.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Patria Investments Limited (NYSE:PAX - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,625,000 shares of the company's stock after acquiring an additional 141,842 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 2.72% of Patria Investments worth $18,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Patria Investments by 25.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,319 shares of the company's stock valued at $260,000 after purchasing an additional 4,459 shares during the last quarter. Northern Trust Corp grew its position in Patria Investments by 12.7% during the fourth quarter. Northern Trust Corp now owns 597,660 shares of the company's stock valued at $6,951,000 after buying an additional 67,241 shares during the period. Algert Global LLC increased its holdings in Patria Investments by 128.5% during the fourth quarter. Algert Global LLC now owns 38,022 shares of the company's stock worth $442,000 after buying an additional 21,380 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Patria Investments in the fourth quarter worth about $81,000. Finally, Bank of America Corp DE raised its position in Patria Investments by 31.4% in the fourth quarter. Bank of America Corp DE now owns 107,130 shares of the company's stock worth $1,246,000 after acquiring an additional 25,626 shares during the period. Hedge funds and other institutional investors own 96.27% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Patria Investments from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Patria Investments Stock Performance

NYSE PAX traded up $0.01 during trading on Tuesday, hitting $14.05. 631,559 shares of the company's stock traded hands, compared to its average volume of 564,529. 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 stock has a market capitalization of $934.63 million, a price-to-earnings ratio of 28.10, a PEG ratio of 1.28 and a beta of 0.69. Patria Investments Limited has a 12-month low of $9.43 and a 12-month high of $14.52. The business has a 50 day moving average of $13.71 and a 200-day moving average of $12.47.

Patria Investments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, August 15th. Patria Investments's dividend payout ratio is presently 107.14%.

Patria Investments Profile

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.