Patria Investments Limited $PAX Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Patria Investments Limited by 39.5%, selling 202,511 shares and now holding 0.51% of the company, valued at approximately $3.5 million.
• Patria Investments recently declared a quarterly dividend of $0.15 per share, translating to an annualized yield of 3.9%, although the company's payout ratio stands at 107.14%.
• Analyst ratings for Patria Investments have improved, with Zacks Research upgrading the stock from a "strong sell" to a "hold," leading to an overall consensus rating of "Moderate Buy."

Goldman Sachs Group Inc. reduced its stake in Patria Investments Limited (NYSE:PAX - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 309,960 shares of the company's stock after selling 202,511 shares during the quarter. Goldman Sachs Group Inc. owned 0.51% of Patria Investments worth $3,499,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Nuveen LLC purchased a new position in shares of Patria Investments in the 1st quarter valued at about $13,503,000. Nuveen Asset Management LLC grew its holdings in shares of Patria Investments by 40.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,317,635 shares of the company's stock worth $15,324,000 after buying an additional 382,178 shares during the last quarter. Millennium Management LLC grew its stake in shares of Patria Investments by 27.2% in the 4th quarter. Millennium Management LLC now owns 915,407 shares of the company's stock valued at $10,646,000 after purchasing an additional 195,616 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Patria Investments by 9.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,625,000 shares of the company's stock valued at $18,346,000 after buying an additional 141,842 shares during the period. Finally, Denali Advisors LLC purchased a new position in Patria Investments during the first quarter worth about $1,019,000. Institutional investors and hedge funds own 96.27% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Patria Investments from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Patria Investments Trading Up 1.2%

Patria Investments stock traded up $0.18 during trading on Monday, reaching $15.13. The company had a trading volume of 567,473 shares, compared to its average volume of 565,875. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.28 and a beta of 0.69. 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's 50 day moving average price is $13.84 and its two-hundred day moving average price is $12.71. Patria Investments Limited has a 12-month low of $9.43 and a 12-month high of $15.40.

Patria Investments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. Patria Investments's dividend payout ratio is presently 107.14%.

Patria Investments Company 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.