Patria Investments Limited (NYSE:PAX – Get Rating) declared a quarterly dividend on Friday, November 4th, Wall Street Journal reports. Investors of record on Tuesday, November 15th will be paid a dividend of 0.171 per share on Wednesday, December 7th. This represents a $0.68 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Monday, November 14th. This is a positive change from Patria Investments’s previous quarterly dividend of $0.17.
Patria Investments Stock Down 0.2 %
Patria Investments stock traded down $0.03 during midday trading on Friday, reaching $14.11. 6,031 shares of the stock traded hands, compared to its average volume of 170,131. The stock’s fifty day moving average is $13.59 and its 200-day moving average is $14.44. Patria Investments has a 12 month low of $12.25 and a 12 month high of $19.49. The stock has a market cap of $765.47 million, a P/E ratio of 28.84, a PEG ratio of 1.57 and a beta of 0.60.
Patria Investments (NYSE:PAX – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Patria Investments had a return on equity of 22.22% and a net margin of 35.12%. The company had revenue of $55.60 million during the quarter, compared to analyst estimates of $55.74 million. On average, equities analysts predict that Patria Investments will post 0.85 EPS for the current fiscal year.
Institutional Investors Weigh In On Patria Investments
Several hedge funds and other institutional investors have recently modified their holdings of PAX. JPMorgan Chase & Co. raised its holdings in shares of Patria Investments by 6.3% in the first quarter. JPMorgan Chase & Co. now owns 318,825 shares of the company’s stock worth $5,678,000 after buying an additional 18,825 shares during the period. Citigroup Inc. purchased a new stake in shares of Patria Investments in the first quarter worth approximately $52,000. Sei Investments Co. raised its holdings in shares of Patria Investments by 52.9% in the first quarter. Sei Investments Co. now owns 117,447 shares of the company’s stock worth $2,092,000 after buying an additional 40,659 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Patria Investments by 135.4% in the first quarter. Renaissance Technologies LLC now owns 128,300 shares of the company’s stock worth $2,285,000 after buying an additional 73,800 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Patria Investments by 14.2% in the first quarter. Invesco Ltd. now owns 436,618 shares of the company’s stock worth $7,776,000 after buying an additional 54,222 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PAX. TheStreet lowered Patria Investments from a “c-” rating to a “d+” rating in a research note on Wednesday, July 13th. Bank of America began coverage on Patria Investments in a research note on Wednesday, September 7th. They issued a “neutral” rating for the company.
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.
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Read More: Patria Investments Limited (NYSE:PAX) Raises Dividend to $0.17 Per Share