AdvisorNet Financial Inc Sells 4,090 Shares of Patria Investments Limited (NYSE:PAX)

AdvisorNet Financial Inc cut its stake in Patria Investments Limited (NYSE:PAX) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,490 shares of the company’s stock after selling 4,090 shares during the period. AdvisorNet Financial Inc’s holdings in Patria Investments were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Patria Investments by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 442,365 shares of the company’s stock worth $4,941,000 after purchasing an additional 113,935 shares during the last quarter. Barclays PLC grew its holdings in shares of Patria Investments by 314.0% in the third quarter. Barclays PLC now owns 78,977 shares of the company’s stock worth $883,000 after purchasing an additional 59,900 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Patria Investments by 0.8% in the third quarter. Geode Capital Management LLC now owns 680,447 shares of the company’s stock worth $7,601,000 after purchasing an additional 5,187 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Patria Investments in the third quarter worth about $107,000. Finally, State Street Corp grew its holdings in shares of Patria Investments by 21.7% in the third quarter. State Street Corp now owns 1,165,331 shares of the company’s stock worth $13,017,000 after purchasing an additional 208,039 shares during the last quarter. 96.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their target price 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 Stock Up 5.0 %

Shares of Patria Investments stock opened at $11.65 on Friday. 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 1 year low of $10.63 and a 1 year high of $16.16. The firm’s 50-day moving average is $11.91 and its two-hundred day moving average is $11.80. The stock has a market cap of $696.32 million, a price-to-earnings ratio of 27.09, a PEG ratio of 1.18 and a beta of 0.58.

Patria Investments (NYSE:PAX) last issued its earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Patria Investments had a return on equity of 34.00% and a net margin of 19.68%. The business had revenue of $78.10 million for the quarter, compared to the consensus estimate of $76.55 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. As a group, research analysts expect that Patria Investments Limited will post 1.02 earnings per share for the current fiscal year.

Patria Investments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 18th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Monday, November 18th. Patria Investments’s payout ratio is 139.53%.

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.