Patria Investments (NYSE:PAX) Sees Strong Trading Volume – Still a Buy?

Patria Investments Limited (NYSE:PAX) saw strong trading volume on Friday . 1,122,793 shares changed hands during mid-day trading, an increase of 141% from the previous session’s volume of 465,441 shares.The stock last traded at $11.96 and had previously closed at $12.15.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price objective on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd.

Patria Investments Price Performance

The stock has a fifty day simple moving average of $11.67 and a 200-day simple moving average of $12.01. The company has a market capitalization of $714.81 million, a PE ratio of 27.81, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31.

Patria Investments (NYSE:PAX) last posted its earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.55 million. Patria Investments had a return on equity of 34.00% and a net margin of 19.68%. During the same quarter in the previous year, the firm earned $0.23 EPS. Equities analysts anticipate that Patria Investments Limited will post 1.05 earnings per share for the current year.

Patria Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, November 18th. Patria Investments’s payout ratio is 139.53%.

Institutional Trading of Patria Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Patria Investments by 16.2% in the first quarter. Vanguard Group Inc. now owns 419,823 shares of the company’s stock valued at $6,230,000 after buying an additional 58,443 shares during the last quarter. Millennium Management LLC boosted its stake in Patria Investments by 42.2% during the 2nd quarter. Millennium Management LLC now owns 976,337 shares of the company’s stock worth $11,775,000 after purchasing an additional 289,830 shares during the period. Price T Rowe Associates Inc. MD grew its position in Patria Investments by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 128,799 shares of the company’s stock worth $1,912,000 after purchasing an additional 2,405 shares during the last quarter. SG Americas Securities LLC acquired a new position in Patria Investments in the third quarter valued at $211,000. Finally, Aurora Investment Counsel purchased a new stake in shares of Patria Investments in the third quarter valued at about $1,401,000. 96.27% of the stock is owned by hedge funds and other institutional investors.

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.