Amcor stock falls after Raymond James reiterates Market Perform rating
Patria Investments Ltd (NASDAQ:PAX) stock reached a new 52-week high, touching $14.13 recently. According to InvestingPro data, the company shows impressive momentum with a 24% return over the past six months and maintains a healthy 4.3% dividend yield. This milestone reflects a positive trajectory for the company, as its stock has experienced a 14.48% increase over the past year. The rise in stock value underscores investor confidence and the company’s robust financial health, supported by strong revenue growth of 22.7% and an overall "Good" Financial Health Score from InvestingPro. As Patria Investments continues to navigate the market, this achievement marks a significant point of progress, providing an optimistic outlook for stakeholders. InvestingPro analysis suggests the stock may still be slightly undervalued at current levels, with additional insights available in the comprehensive Pro Research Report.
In other recent news, Patria Investments reported earnings for the first quarter that did not meet analyst expectations. The company posted adjusted earnings per share of $0.23, which was $0.08 lower than the consensus estimate of $0.31. Revenue for the quarter was $79.6 million, falling short of the projected $102.14 million. Despite these results, Patria Investments highlighted successful fundraising efforts, raising $3.2 billion in the quarter, setting a positive tone for the year. The company aims to achieve a $6 billion fundraising target for 2025. Additionally, Fee Related Earnings grew by 21% year-over-year to $42.6 million, with a Fee Related Earnings margin of 55.1%. Patria Investments also declared a quarterly dividend of $0.15 per share, scheduled for payment on June 12. Total (EPA:TTEF) assets under management were reported to be over $45 billion at the end of the quarter.
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