Martingale Asset Management L P Buys 6,713 Shares of Patria Investments Limited (NYSE:PAX)

Martingale Asset Management L P lifted its stake in Patria Investments Limited (NYSE:PAX) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,891 shares of the company’s stock after purchasing an additional 6,713 shares during the quarter. Martingale Asset Management L P owned about 0.13% of Patria Investments worth $837,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PAX. 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 worth $6,230,000 after purchasing an additional 58,443 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 2,405 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in Patria Investments by 1.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 93,916 shares of the company’s stock valued at $1,133,000 after acquiring an additional 1,228 shares during the period. Bank of New York Mellon Corp grew its position in Patria Investments by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 181,777 shares of the company’s stock valued at $2,192,000 after acquiring an additional 21,282 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Patria Investments by 24.9% in the second quarter. Commonwealth Equity Services LLC now owns 22,851 shares of the company’s stock worth $276,000 after purchasing an additional 4,551 shares during the period. Institutional investors own 96.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their target price on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd.

Patria Investments Price Performance

Shares of PAX stock opened at $11.98 on Tuesday. The company’s 50-day simple moving average is $11.67 and its two-hundred day simple moving average is $12.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.88. Patria Investments Limited has a one year low of $10.63 and a one year high of $16.16. The company has a market capitalization of $716.04 million, a P/E ratio of 27.86, a P/E/G ratio of 1.46 and a beta of 0.57.

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

Patria Investments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.01%. Patria Investments’s payout ratio is 139.53%.

Patria Investments 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.