Bank of New York Mellon Corp Makes New Investment in Patria Investments Limited $PAX

Bank of New York Mellon Corp acquired a new stake in Patria Investments Limited (NYSE:PAX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 181,323 shares of the company's stock, valued at approximately $1,991,000. Bank of New York Mellon Corp owned approximately 0.27% of Patria Investments as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Zeno Equity Partners LLP acquired a new stake in Patria Investments in the fourth quarter valued at approximately $9,386,000. SEB Asset Management AB bought a new stake in shares of Patria Investments in the 1st quarter worth approximately $5,465,000. Renaissance Technologies LLC bought a new position in shares of Patria Investments in the first quarter valued at $2,971,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Patria Investments in the 1st quarter worth $1,197,000. Finally, Globeflex Capital L P lifted its holdings in shares of Patria Investments by 36.9% during the fourth quarter. Globeflex Capital L P now owns 265,553 shares of the company's stock valued at $4,220,000 after purchasing an additional 71,625 shares during the last quarter. Institutional investors and hedge funds own 96.27% of the company's stock.

Patria Investments Stock Performance

PAX stock traded down $0.19 during trading hours on Monday, reaching $10.44. The stock had a trading volume of 599,783 shares, compared to its average volume of 991,604. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $694.17 million, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76. Patria Investments Limited has a fifty-two week low of $10.39 and a fifty-two week high of $17.80. The stock has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $11.65.

Patria Investments Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup cut Patria Investments to an "underperform" rating in a research report on Wednesday, September 9th. Bank of America lowered shares of Patria Investments from a "neutral" rating to an "underperform" rating and set a $10.00 price objective on the stock. in a research report on Wednesday, September 9th. JPMorgan Chase & Co. lowered their target price on shares of Patria Investments from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday. Zacks Research upgraded Patria Investments from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Wells Fargo & Company set a $10.00 price target on Patria Investments in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Patria Investments presently has an average rating of "Reduce" and a consensus target price of $12.75.

Insider Activity

In other Patria Investments news, CEO of Global Private Markets Marco D'Ippolito sold 7,004 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $11.29, for a total transaction of $79,075.16. Following the completion of the sale, the insider directly owned 443,178 shares in the company, valued at $5,003,479.62. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 58.10% of the company's stock.

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.