Patria Investments (NYSE:PAX) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Patria Investments (NYSE:PAX) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Patria Investments Stock Performance

Shares of PAX stock opened at $13.85 on Wednesday. The stock has a 50-day simple moving average of $13.71 and a 200 day simple moving average of $12.46. Patria Investments has a fifty-two week low of $9.43 and a fifty-two week high of $14.52. The stock has a market capitalization of $921.33 million, a P/E ratio of 27.70, a P/E/G ratio of 1.28 and a beta of 0.69. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.60 annualized dividend and a yield of 4.3%. Patria Investments’s dividend payout ratio (DPR) is currently 107.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pertento Partners LLP boosted its stake in Patria Investments by 0.3% during the second quarter. Pertento Partners LLP now owns 3,317,006 shares of the company’s stock valued at $46,637,000 after buying an additional 8,380 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Patria Investments by 9.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,625,000 shares of the company’s stock valued at $18,346,000 after buying an additional 141,842 shares in the last quarter. Inherent Management Corp. lifted its holdings in shares of Patria Investments by 21.3% during the second quarter. Inherent Management Corp. now owns 1,466,831 shares of the company’s stock valued at $20,624,000 after purchasing an additional 258,008 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Patria Investments by 40.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,317,635 shares of the company’s stock valued at $15,324,000 after purchasing an additional 382,178 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Patria Investments in the 1st quarter valued at $13,503,000. Institutional investors 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.