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

Key Points

• Patria Investments shares reached a new 52-week high of $14.57 during trading, closing at $14.51 with a trading volume of 105,695 shares.
• Analysts have upgraded the stock's rating from "strong sell" to "hold," with an average consensus price target of $14.00.
• The company recently declared a quarterly dividend of $0.15 per share, representing an annualized yield of 4.2%, with a payout ratio of 107.14%.

Patria Investments Limited (NYSE:PAX - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $14.57 and last traded at $14.51, with a volume of 105695 shares trading hands. The stock had previously closed at $14.19.

Wall Street Analyst Weigh In

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

Patria Investments Stock Performance

The firm has a market cap of $960.58 million, a price-to-earnings ratio of 28.91, a P/E/G ratio of 1.28 and a beta of 0.69. The firm has a fifty day simple moving average of $13.71 and a two-hundred day simple moving average of $12.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91.

Patria Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 15th. Patria Investments's payout ratio is 107.14%.

Institutional Investors Weigh In On Patria Investments

A number of institutional investors have recently added to or reduced their stakes in PAX. Russell Investments Group Ltd. boosted its stake in shares of Patria Investments by 850.5% during the 1st quarter. Russell Investments Group Ltd. now owns 23,790 shares of the company's stock valued at $269,000 after buying an additional 21,287 shares during the period. Formidable Asset Management LLC acquired a new position in shares of Patria Investments during the fourth quarter valued at $425,000. Farther Finance Advisors LLC boosted its position in shares of Patria Investments by 72,404.8% in the 1st quarter. Farther Finance Advisors LLC now owns 15,226 shares of the company's stock worth $174,000 after purchasing an additional 15,205 shares during the last quarter. Bank of America Corp DE lifted its holdings in Patria Investments by 31.4% during the fourth quarter. Bank of America Corp DE now owns 107,130 shares of the company's stock worth $1,246,000 after acquiring an additional 25,626 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Patria Investments by 12.7% during the 4th quarter. Northern Trust Corp now owns 597,660 shares of the company's stock worth $6,951,000 after acquiring an additional 67,241 shares during the last quarter. 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.

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