Patria Investments (NYSE:PAX) Reaches New 12-Month High - Here's What Happened

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) hit 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 trading hands. The stock had previously closed at $14.83.

Wall Street Analyst Weigh In

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

Patria Investments Stock Performance

The business has a fifty day moving average of $13.74 and a 200-day moving average of $12.59. 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 company has a market cap of $981.86 million, a PE ratio of 29.52, a P/E/G ratio of 1.28 and a beta of 0.69.

Patria Investments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. Patria Investments's dividend payout ratio is 107.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TT Capital Management LLC grew its holdings in shares of Patria Investments by 17.0% during the 2nd quarter. TT Capital Management LLC now owns 88,300 shares of the company's stock worth $1,241,000 after acquiring an additional 12,850 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Patria Investments by 52.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company's stock worth $115,000 after acquiring an additional 2,818 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Patria Investments by 1,721.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 55,437 shares of the company's stock worth $779,000 after acquiring an additional 52,393 shares during the period. Bank of America Corp DE boosted its position in shares of Patria Investments by 121.7% in the 2nd quarter. Bank of America Corp DE now owns 149,017 shares of the company's stock worth $2,095,000 after purchasing an additional 81,807 shares in the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of Patria Investments in the 2nd quarter worth approximately $5,624,000. Hedge funds and other institutional investors own 96.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.