Citigroup Inc. Purchases 97,210 Shares of Patria Investments Limited (NYSE:PAX)

Citigroup Inc. increased its stake in shares of Patria Investments Limited (NYSE:PAX - Free Report) by 43.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 318,580 shares of the company's stock after purchasing an additional 97,210 shares during the period. Citigroup Inc. owned approximately 0.53% of Patria Investments worth $3,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PAX. Mendota Financial Group LLC bought a new position in Patria Investments during the third quarter valued at $56,000. Algert Global LLC bought a new position in Patria Investments during the second quarter valued at $139,000. Naviter Wealth LLC bought a new position in Patria Investments during the third quarter valued at $183,000. Intech Investment Management LLC bought a new position in Patria Investments during the third quarter valued at $200,000. Finally, SG Americas Securities LLC bought a new position in Patria Investments during the third quarter valued at $211,000. 96.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reduced their target price on shares of Patria Investments from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd.

Patria Investments Trading Up 0.7 %

Shares of PAX traded up $0.09 during midday trading on Thursday, hitting $12.26. The stock had a trading volume of 380,282 shares, compared to its average volume of 468,821. Patria Investments Limited has a 1 year low of $10.63 and a 1 year high of $16.16. The firm has a market cap of $732.78 million, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50 day moving average is $11.71 and its 200 day moving average is $11.98.

Patria Investments (NYSE:PAX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $78.10 million during the quarter, compared to analysts' expectations of $76.55 million. Patria Investments had a return on equity of 34.00% and a net margin of 19.68%. During the same period in the prior year, the business earned $0.23 EPS. As a group, analysts forecast that Patria Investments Limited will post 1.05 EPS for the current fiscal year.

Patria Investments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, November 18th. Patria Investments's dividend payout ratio is presently 139.53%.

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.