Patria Investments (NYSE:PAX) Reaches New 1-Year High - Still a Buy?

Key Points

• Patria Investments reached a new 52-week high, trading as high as $14.93, reflecting positive momentum in the stock performance.
• Analysts have upgraded the stock rating from "strong sell" to "hold," with a consensus rating of "Moderate Buy" and a target price of $14.00.
• The company recently announced a quarterly dividend of $0.15 per share, which provides an annualized yield of 4.1%, despite having a high dividend payout ratio of 107.14%.

Patria Investments Limited (NYSE:PAX - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $14.93 and last traded at $14.76, with a volume of 436354 shares traded. The stock had previously closed at $14.83.

Analyst Ratings Changes

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

Patria Investments Trading Down 2.0%

The stock has a market capitalization of $994.50 million, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.28 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $13.81 and its two-hundred day moving average price is $12.67.

Patria Investments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were issued 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 was Friday, August 15th. Patria Investments's payout ratio is presently 107.14%.

Institutional Investors Weigh In On Patria Investments

Hedge funds have recently made changes to their positions in the business. Pertento Partners LLP raised its holdings in Patria Investments by 0.3% during the 2nd quarter. Pertento Partners LLP now owns 3,317,006 shares of the company's stock valued at $46,637,000 after buying an additional 8,380 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Patria Investments by 9.6% during 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 last quarter. Inherent Management Corp. raised its holdings in Patria Investments by 21.3% during the 2nd quarter. Inherent Management Corp. now owns 1,466,831 shares of the company's stock valued at $20,624,000 after buying an additional 258,008 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Patria Investments by 40.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,317,635 shares of the company's stock valued at $15,324,000 after buying an additional 382,178 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Patria Investments during the 1st quarter valued at $13,503,000. 96.27% of the stock is currently owned by institutional investors.

About Patria Investments

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.