Trexquant Investment LP Cuts Stock Holdings in Patria Investments Limited $PAX

Key Points

• Trexquant Investment LP has reduced its stake in Patria Investments Limited by 32.6%, selling 48,667 shares, leaving them with approximately 100,819 shares valued at $1.14 million.
• Several institutional investors have increased their holdings in Patria, including Farther Finance Advisors LLC, which raised its stake by 72,404.8%, and Russell Investments Group Ltd., which upped its stake by 850.5%.
• Patria Investments announced a quarterly dividend of $0.15 per share, which will be paid on September 15th, representing an annual yield of 4.3%, though its payout ratio is currently at 107.14%.

Trexquant Investment LP decreased its position in shares of Patria Investments Limited (NYSE:PAX - Free Report) by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,819 shares of the company's stock after selling 48,667 shares during the quarter. Trexquant Investment LP owned 0.17% of Patria Investments worth $1,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Patria Investments by 888.9% during the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $43,000 after purchasing an additional 3,440 shares during the period. CWM LLC lifted its position in Patria Investments by 85.1% during the first quarter. CWM LLC now owns 5,099 shares of the company's stock valued at $58,000 after purchasing an additional 2,345 shares during the period. BNP Paribas Financial Markets bought a new position in Patria Investments during the fourth quarter valued at approximately $81,000. AdvisorNet Financial Inc lifted its position in Patria Investments by 31.9% during the first quarter. AdvisorNet Financial Inc now owns 7,240 shares of the company's stock valued at $82,000 after purchasing an additional 1,750 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Patria Investments in the first quarter worth approximately $140,000. Institutional investors own 96.27% of the company's stock.

Analysts Set New Price Targets

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

Patria Investments Price Performance

Shares of NYSE PAX traded up $0.01 during midday trading on Tuesday, reaching $14.05. The stock had a trading volume of 631,559 shares, compared to its average volume of 564,529. The stock has a 50-day moving average of $13.71 and a 200-day moving average of $12.48. 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 capitalization of $934.63 million, a price-to-earnings ratio of 28.10, a price-to-earnings-growth 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.

Patria Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. Patria Investments's dividend payout ratio is 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.