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

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) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.57 and last traded at $14.51, with a volume of 105695 shares. The stock had previously closed at $14.19.

Analyst Ratings Changes

Separately, Zacks Research raised shares of 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Patria Investments Price Performance

The stock has a market cap of $981.86 million, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 1.28 and a beta of 0.69. The stock's 50 day moving average price is $13.73 and its two-hundred day moving average price is $12.57. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.

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 paid a $0.15 dividend. 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 presently 107.14%.

Institutional Trading of Patria Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in Patria Investments by 14.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,140 shares of the company's stock valued at $86,000 after buying an additional 775 shares during the period. Public Employees Retirement System of Ohio grew its position in Patria Investments by 7.8% during the second quarter. Public Employees Retirement System of Ohio now owns 13,900 shares of the company's stock valued at $195,000 after buying an additional 1,000 shares during the period. The Manufacturers Life Insurance Company grew its position in Patria Investments by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,140 shares of the company's stock valued at $311,000 after buying an additional 1,366 shares during the period. Dodge & Cox grew its position in Patria Investments by 7.1% during the second quarter. Dodge & Cox now owns 21,200 shares of the company's stock valued at $298,000 after buying an additional 1,400 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Patria Investments by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,590 shares of the company's stock valued at $367,000 after buying an additional 1,487 shares during the period. Institutional investors and hedge funds own 96.27% of the company's stock.

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.