Patria Investments (NYSE:PAX) Price Target Lowered to $14.00 at The Goldman Sachs Group

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

Patria Investments Price Performance

NYSE:PAX traded down $0.17 during mid-day trading on Tuesday, reaching $11.19. The stock had a trading volume of 54,123 shares, compared to its average volume of 441,135. Patria Investments has a 12 month low of $10.63 and a 12 month high of $16.16. The stock has a market capitalization of $658.68 million, a PE ratio of 14.35, a P/E/G ratio of 1.45 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $12.32.

Patria Investments (NYSE:PAX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.99 million. Patria Investments had a return on equity of 34.20% and a net margin of 26.01%. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, equities analysts anticipate that Patria Investments will post 1.11 earnings per share for the current year.

Institutional Investors Weigh In On Patria Investments

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Patria Investments by 19.1% in the 2nd quarter. American Century Companies Inc. now owns 2,424,862 shares of the company’s stock valued at $29,244,000 after acquiring an additional 389,331 shares during the last quarter. Millennium Management LLC increased its holdings in Patria Investments by 42.2% in the 2nd quarter. Millennium Management LLC now owns 976,337 shares of the company’s stock worth $11,775,000 after purchasing an additional 289,830 shares in the last quarter. Vanguard Group Inc. raised its position in Patria Investments by 16.2% in the first quarter. Vanguard Group Inc. now owns 419,823 shares of the company’s stock valued at $6,230,000 after purchasing an additional 58,443 shares during the last quarter. Capital International Inc. CA boosted its stake in shares of Patria Investments by 6.2% during the first quarter. Capital International Inc. CA now owns 947,997 shares of the company’s stock valued at $14,068,000 after purchasing an additional 55,065 shares in the last quarter. Finally, Denali Advisors LLC bought a new stake in shares of Patria Investments during the second quarter worth about $462,000. 96.27% of the stock is owned by 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.