Patria Investments (NYSE:PAX) Price Target Cut to $14.00

Patria Investments (NYSE:PAX) had its price objective cut by The Goldman Sachs Group from $16.00 to $14.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 25.11% from the company’s previous close.

Patria Investments Trading Down 1.5 %

NYSE:PAX traded down $0.17 during trading hours on Tuesday, hitting $11.19. 54,123 shares of the company were exchanged, compared to its average volume of 441,135. The stock has a market capitalization of $658.68 million, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. Patria Investments has a one year low of $10.63 and a one year high of $16.16. The company has a fifty day simple moving average of $11.36 and a 200 day simple moving average of $12.32. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15.

Patria Investments (NYSE:PAX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $75.00 million during the quarter, compared to the consensus estimate of $69.99 million. Patria Investments had a return on equity of 34.20% and a net margin of 26.01%. During the same period last year, the company earned $0.30 earnings per share. Sell-side analysts expect that Patria Investments will post 1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Patria Investments

A number of hedge funds have recently bought and sold shares of PAX. Naviter Wealth LLC bought a new position in shares of Patria Investments in the 3rd quarter worth about $183,000. Mendota Financial Group LLC bought a new stake in Patria Investments in the third quarter worth approximately $56,000. SG Americas Securities LLC acquired a new position in Patria Investments in the third quarter valued at approximately $211,000. Algert Global LLC acquired a new stake in shares of Patria Investments during the 2nd quarter worth approximately $139,000. Finally, Millennium Management LLC increased its stake in shares of Patria Investments by 42.2% in the 2nd quarter. Millennium Management LLC now owns 976,337 shares of the company’s stock valued at $11,775,000 after acquiring an additional 289,830 shares in the last quarter. Institutional investors own 96.27% of the company’s stock.

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.