Bank of America assumed coverage on shares of Patria Investments (NYSE:PAX – Get Rating) in a research report report published on Wednesday morning, The Fly reports. The firm issued a neutral rating on the stock.
Separately, TheStreet lowered Patria Investments from a c- rating to a d+ rating in a research report on Wednesday, July 13th.
Patria Investments Trading Up 0.4 %
Shares of Patria Investments stock opened at $13.90 on Wednesday. The firm has a market capitalization of $754.05 million, a PE ratio of 28.37 and a beta of 0.47. The business’s 50-day moving average price is $14.08 and its 200-day moving average price is $15.33. Patria Investments has a 12 month low of $12.51 and a 12 month high of $19.49.
Patria Investments Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.169 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.68 annualized dividend and a dividend yield of 4.86%. Patria Investments’s dividend payout ratio (DPR) is presently 138.78%.
Institutional Investors Weigh In On Patria Investments
Several institutional investors have recently bought and sold shares of the stock. CI Investments Inc. boosted its holdings in Patria Investments by 0.6% during the 1st quarter. CI Investments Inc. now owns 188,000 shares of the company’s stock valued at $3,348,000 after acquiring an additional 1,059 shares during the period. Citigroup Inc. purchased a new stake in Patria Investments during the 1st quarter valued at about $52,000. US Bancorp DE purchased a new stake in Patria Investments during the 2nd quarter valued at about $40,000. Castleview Partners LLC purchased a new stake in Patria Investments during the 2nd quarter valued at about $60,000. Finally, Bank of America Corp DE lifted its holdings in Patria Investments by 3,256.8% in the 1st quarter. Bank of America Corp DE now owns 13,427 shares of the company’s stock worth $239,000 after buying an additional 13,027 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
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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