Capital Research & Management Co recently announced the acquisition of new stake in Patria Investments Limited (NASDAQ:PAX). The institutional investor has increased its shareholding in the Financial company by 9.93% to 10.74 million shares with purchase of 0.97 million shares. This fresh investment now brings its stake to 19.80% valued currently at $149.64 million. In addition, Wellington Management Co. LLP raised its holdings by 3.16 million to 7.54 million shares. And Grandeur Peak Global Advisors LLC has lifted its position by 5.44% or 0.2 million shares – to 3.91 million shares.
With over 0.1 million Patria Investments Limited (PAX) shares trading Monday and a closing price of $15.49 on the day, the dollar volume was approximately $1.57 million. The shares have shown a positive half year performance of 14.74% and its price on 01/23/23 gained nearly 1.84%. Currently, there are 147.19M common shares owned by the public and among those 51.75M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for PAX have a consensus price objective of $19.14. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $17.00. The average price target is 19.62% above its recent price level and an upside to the estimated low will see the stock gain 8.88% over that period. But an upside of 22.55% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
The top 3 mutual fund holders in Patria Investments Limited are American Funds Small Cap World Fu, Capital Income Builder, and Janus Henderson Contrarian Fund. American Funds Small Cap World Fu owns 6.91 million shares of the company’s stock, all valued at over $96.31 million. Capital Income Builder bought 0.11 million shares to see its total holdings expand to 4.54 million shares valued at over $63.21 million and representing 8.37% of the shares outstanding. Janus Henderson Contrarian Fund now owns shares totaling to 2.53% of the shares outstanding.
Shares of Patria Investments Limited (NASDAQ: PAX) opened at $15.26, up $0.05 from a prior closing price of $15.21. However, the script later moved the day high at 15.49, up 1.84%. The company’s stock has a 5-day price change of 2.86% and 21.02% over the past three months. PAX shares are trading 11.20% year to date (YTD), with the 12-month market performance down to -7.25% lower. It has a 12-month low price of $12.25 and touched a high of $19.20 over the same period. PAX has an average intraday trading volume of 184.79K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.49%, 12.06%, and 7.70% respectively.
Institutional ownership of Patria Investments Limited (NASDAQ: PAX) shares accounts for 97.50% of the company’s 147.19M shares outstanding. Mutual fund holders own 44.20%, while other institutional holders and individual stakeholders account for 51.29% and — respectively.
It has a market capitalization of $2.27B. The stock’s trailing 12-month PE ratio is 32.27, while the earnings-per-share (ttm) stands at $0.48. The company has a PEG of 1.24 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 2.53% over the month.
Analysts forecast that Patria Investments Limited (PAX) will achieve an EPS of $0.21 for the current quarter, $0.39 for the next quarter and $1.53 for 2023. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.22. Comparatively, EPS for the current quarter was $0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 97.10%, and 58.15% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Patria Investments Limited (PAX) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PAX, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on September 07, 2022, with the firm’s price target at $17. Credit Suisse coverage for the Patria Investments Limited (PAX) stock in a research note released on July 20, 2021 offered a Outperform rating with a price target of $32. Itau BBA was of a view on May 21, 2021 that the stock is Outperform, while JP Morgan gave the stock Neutral rating on February 22, 2021, issuing a price target of $23. Keefe Bruyette on their part issued Outperform rating on February 17, 2021.