Patria Investments (NYSE:PAX) Shares Gap Down Following Analyst Downgrade

Key Points

• Patria Investments shares fell 4.2% after Bank of America downgraded the stock from Neutral to Underperform and set a $10 price target; the shares opened at $10.77 versus a prior close of $11.20.
• Analyst sentiment remains cautious, with Citigroup also assigning an Underperform rating. MarketBeat reports a consensus rating of “Reduce” and an average price target of $13.50.
• Patria declared a quarterly dividend of $0.1625 per share, equivalent to $0.65 annually and a 6.1% yield, though its payout ratio is elevated at 147.73%.

Patria Investments Limited (NYSE:PAX - Get Free Report)'s stock price gapped down before the market opened on Wednesday after Bank of America downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $11.20, but opened at $10.77. Bank of America now has a $10.00 price target on the stock. Patria Investments shares last traded at $10.7250, with a volume of 529,142 shares changing hands.

Several other equities research analysts have also issued reports on PAX. Citigroup lowered shares of Patria Investments to an "underperform" rating in a report on Wednesday. Zacks Research raised shares of Patria Investments from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $13.50.

Insider Buying and Selling

In other Patria Investments news, CEO Marco D'Ippolito sold 7,004 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $11.29, for a total value of $79,075.16. Following the sale, the chief executive officer owned 443,178 shares in the company, valued at $5,003,479.62. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 58.10% of the stock is owned by company insiders.

Institutional Trading of Patria Investments

Large investors have recently made changes to their positions in the stock. Pertento Partners LLP increased its stake in Patria Investments by 12.9% in the 4th quarter. Pertento Partners LLP now owns 4,483,299 shares of the company's stock worth $71,240,000 after buying an additional 511,327 shares during the period. Samlyn Capital LLC boosted its position in Patria Investments by 3.4% in the 3rd quarter. Samlyn Capital LLC now owns 1,986,266 shares of the company's stock valued at $28,999,000 after buying an additional 66,161 shares during the period. State Street Corp grew its stake in Patria Investments by 6.4% in the 4th quarter. State Street Corp now owns 1,361,241 shares of the company's stock worth $21,631,000 after acquiring an additional 82,067 shares in the last quarter. Millennium Management LLC grew its stake in Patria Investments by 56.9% in the 4th quarter. Millennium Management LLC now owns 1,357,116 shares of the company's stock worth $21,565,000 after acquiring an additional 492,009 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Patria Investments by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 853,986 shares of the company's stock worth $13,570,000 after acquiring an additional 19,133 shares during the period. 96.27% of the stock is owned by hedge funds and other institutional investors.

Patria Investments Trading Down 4.2%

The stock's 50-day moving average price is $11.20 and its 200 day moving average price is $11.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $713.46 million, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76.

Patria Investments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, August 10th. Patria Investments's dividend payout ratio (DPR) is presently 147.73%.

Patria Investments Company Profile

Patria Investments Limited NYSE: PAX is a Brazil-based alternative asset management firm specializing in private equity, infrastructure, real estate and credit investments. Since its founding in 1988, the firm has focused on identifying and partnering with high-potential companies and projects across Latin America. Patria's investment approach combines local market expertise with global best practices to structure and manage portfolios that aim to deliver long-term value to institutional and high-net-worth clients.

The company's core business activities include private equity funds targeting mid-market and large-cap buyouts, infrastructure funds investing in essential assets such as energy and transportation, real estate strategies encompassing residential, commercial and logistics properties, and credit funds that provide financing solutions across the capital structure.

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