Verition Fund Management LLC Trims Position in Patria Investments Limited (NYSE:PAX)

Verition Fund Management LLC reduced its holdings in shares of Patria Investments Limited (NYSE:PAX - Free Report) by 91.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,832 shares of the company's stock after selling 130,820 shares during the quarter. Verition Fund Management LLC's holdings in Patria Investments were worth $132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PAX. Citigroup Inc. grew its position in shares of Patria Investments by 43.9% during the 3rd quarter. Citigroup Inc. now owns 318,580 shares of the company's stock valued at $3,559,000 after purchasing an additional 97,210 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Patria Investments in the 3rd quarter worth approximately $669,000. Millennium Management LLC grew its holdings in shares of Patria Investments by 42.2% during the 2nd quarter. Millennium Management LLC now owns 976,337 shares of the company's stock valued at $11,775,000 after purchasing an additional 289,830 shares during the last quarter. FMR LLC raised its position in Patria Investments by 8.8% in the 3rd quarter. FMR LLC now owns 5,976,699 shares of the company's stock worth $66,760,000 after purchasing an additional 483,675 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Patria Investments during the third quarter valued at about $211,000. 96.27% of the stock is owned by institutional investors.

Patria Investments Stock Up 2.7 %

Shares of NYSE:PAX traded up $0.34 during midday trading on Tuesday, reaching $12.74. The company's stock had a trading volume of 1,062,880 shares, compared to its average volume of 473,550. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $11.96 and a 200-day moving average of $11.95. The firm has a market capitalization of $761.43 million, a P/E ratio of 29.63, a PEG ratio of 1.74 and a beta of 0.58. Patria Investments Limited has a 12-month low of $10.63 and a 12-month high of $16.16.

Patria Investments (NYSE:PAX - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates 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 company posted $0.23 earnings per share. On average, research analysts anticipate that Patria Investments Limited will post 1.05 earnings per share for the current year.

Patria Investments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 18th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.60 annualized dividend and a yield of 4.71%. Patria Investments's dividend payout ratio (DPR) is presently 139.53%.

Wall Street Analysts Forecast Growth

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

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.