Bank of America Downgrades Patria Investments (NYSE:PAX) to Underperform

Patria Investments (NYSE:PAX) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $10.00 target price on the stock. Bank of America‘s price target would indicate a potential downside of 4.17% from the stock’s current price.

Other research analysts have also issued reports about the company. Citigroup lowered Patria Investments to an “underperform” rating in a research report on Wednesday, September 9th. Zacks Research upgraded shares of Patria Investments from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Patria Investments currently has an average rating of “Reduce” and a consensus price target of $12.75.

Patria Investments Trading Down 1.7%

Patria Investments stock traded down $0.19 during trading on Wednesday, reaching $10.44. The company had a trading volume of 599,783 shares, compared to its average volume of 991,604. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $694.17 million, a price-to-earnings ratio of 20.87, a PEG ratio of 1.28 and a beta of 0.76. Patria Investments has a 12-month low of $10.39 and a 12-month high of $17.80. The stock’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $11.65.

Insiders Place Their Bets

In related news, CEO of Global Private Markets Marco D’Ippolito sold 7,004 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $11.29, for a total value of $79,075.16. Following the completion of the sale, the insider directly owned 443,178 shares of the company’s stock, valued at approximately $5,003,479.62. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 58.10% of the company’s stock.

Institutional Investors Weigh In On Patria Investments

A number of hedge funds have recently made changes to their positions in the company. Zeno Equity Partners LLP bought a new position in shares of Patria Investments during the fourth quarter valued at $9,386,000. SEB Asset Management AB acquired a new stake in shares of Patria Investments in the 1st quarter worth about $5,465,000. Renaissance Technologies LLC purchased a new stake in Patria Investments in the 1st quarter valued at $2,971,000. Bank of New York Mellon Corp bought a new stake in shares of Patria Investments in the 2nd quarter worth $1,991,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Patria Investments during the first quarter valued at about $1,197,000. Institutional investors and hedge funds own 96.27% of the company’s stock.

Patria Investments Company Profile

Patria Investments Limited (NYSE: PAX) is an alternative asset management firm focused on investment opportunities in Latin America and other emerging markets. The company serves institutional investors, family offices, sovereign wealth funds and other clients seeking exposure to private-market investments.

Patria manages a range of investment strategies, including private equity, infrastructure, credit, growth capital, venture capital and real estate. Its activities include raising and managing investment funds, identifying opportunities, providing capital to businesses and projects, and supporting portfolio companies through operational and strategic initiatives.

Founded in Brazil in 1988, Patria has expanded its operations across Latin America and maintains a broader international presence to serve global investors.