Patria Investments (NYSE:PAX) Hits New 52-Week Low - Here's What Happened

Key Points

• Patria Investments shares fell to a new 52-week low of $9.90, below the 50-day and 200-day moving averages. The stock has a consensus “Reduce” rating, with three analysts recommending Sell and a consensus price target of $12.75.
• Several research firms recently downgraded the stock or lowered their targets, including JPMorgan, Bank of America, Citigroup and Zacks Research, citing a weaker outlook for the shares.
• Patria paid a quarterly dividend of $0.1625 per share, equivalent to a 6.6% annualized yield, although its dividend payout ratio is elevated at 147.73%. Insiders own 58.1% of the company, while institutional investors hold 96.27%.

Patria Investments Limited (NYSE:PAX - Get Free Report) shares hit a new 52-week low during trading on Tuesday. The company traded as low as $9.90 and last traded at $9.8970, with a volume of 502549 shares traded. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PAX. JPMorgan Chase & Co. reduced their price objective on Patria Investments from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, September 10th. Zacks Research cut Patria Investments from a "hold" rating to a "strong sell" rating in a research note on Monday, September 14th. Bank of America downgraded Patria Investments from a "neutral" rating to an "underperform" rating and set a $10.00 price target for the company. in a report on Wednesday, September 9th. Citigroup lowered Patria Investments to an "underperform" rating in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company set a $10.00 price target on shares of Patria Investments in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $12.75.

Patria Investments Trading Down 1.4%

The firm has a 50 day simple moving average of $10.99 and a 200 day simple moving average of $11.46. 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 firm has a market capitalization of $659.58 million, a PE ratio of 19.83, a P/E/G ratio of 1.28 and a beta of 0.76.

Patria Investments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, August 10th were given a dividend of $0.1625 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.65 annualized dividend and a dividend yield of 6.6%. Patria Investments's dividend payout ratio (DPR) is 147.73%.

Insider Buying and Selling

In related news, CEO of Global Private Markets Marco D'Ippolito sold 7,004 shares of Patria Investments stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $11.29, for a total value of $79,075.16. Following the completion of the sale, the insider directly owned 443,178 shares in the company, valued at approximately $5,003,479.62. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 58.10% of the company's stock.

Institutional Trading of Patria Investments

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in Patria Investments during the second quarter valued at approximately $27,000. Squarepoint Ops LLC bought a new stake in Patria Investments in the 2nd quarter worth approximately $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Patria Investments during the 2nd quarter valued at $227,000. AXQ Capital LP purchased a new stake in Patria Investments during the 2nd quarter valued at $112,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Patria Investments during the 2nd quarter valued at $154,000. Hedge funds and other institutional investors own 96.27% of the company's stock.

Patria Investments Company Profile

Patria Investments Limited NYSE: PAX is an alternative asset management firm focused on investment opportunities in Latin America and other emerging markets. The company serves institutional investors, family offices, sovereign wealth funds and other clients seeking exposure to private-market investments.

Patria manages a range of investment strategies, including private equity, infrastructure, credit, growth capital, venture capital and real estate. Its activities include raising and managing investment funds, identifying opportunities, providing capital to businesses and projects, and supporting portfolio companies through operational and strategic initiatives.

Founded in Brazil in 1988, Patria has expanded its operations across Latin America and maintains a broader international presence to serve global investors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.