Patria Investments Ltd
PAX · Investment Advice · EDGAR filings ↗
Reference price $11.46 — last insider purchase, 2026-06-05 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B71LatAm alternative asset manager with top-quartile ROE and strong cash conversion, on somewhat stale FY2023 metrics.
Strengths
- ROE 15.4% (59th pct) with high net margin (20%, 64th pct) and strong FCF/OCF margins (~38-39%)
- Double-digit revenue growth (14%, 69th pct) and diversifying, increasingly permanent-capital AUM base
Risks
- Net income declined 37% (17th pct); thin balance-sheet cash and sub-1.0 current ratio
- Concentrated Brazil/LatAm macro, FX, and PFIC/tax exposure
Notable findings
- Weak liquidityCurrent ratio 0.94 (<1)
- Insider buyingInsider buying — 12 open-market buy(s) by 1 insider(s) (~$3M, last 6mo) Form 4 ↗
Key metrics
Net margin
20.2%
Return on equity
15.4%
Return on assets
6.3%
Revenue growth (QoQ)
14.2%
Net-income growth
-37.4%
Current ratio
0.9×
Free cash flow
$142M
Tangible book value
$491M
Cash & investments
$33M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-05 | Neto Olimpio Matarazzo | Buy | 50K | $11.46 |
| 2026-06-03 | Neto Olimpio Matarazzo | Buy | 15K | $11.09 |
| 2026-06-03 | Neto Olimpio Matarazzo | Buy | 35K | $11.14 |
| 2026-06-02 | Neto Olimpio Matarazzo | Buy | 15K | $11.74 |
| 2026-06-01 | Neto Olimpio Matarazzo | Buy | 15K | $11.59 |
| 2026-05-29 | Neto Olimpio Matarazzo | Buy | 15K | $11.46 |
| 2026-05-28 | Neto Olimpio Matarazzo | Buy | 15K | $11.50 |
| 2026-05-27 | Neto Olimpio Matarazzo | Buy | 15K | $11.48 |
| 2026-05-26 | Neto Olimpio Matarazzo | Buy | 15K | $11.31 |
| 2026-05-21 | Neto Olimpio Matarazzo | Buy | 15K | $11.14 |
| 2026-05-20 | Neto Olimpio Matarazzo | Buy | 15K | $10.99 |
| 2026-05-15 | Neto Olimpio Matarazzo | Buy | 15K | $11.40 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-30 | 2025-12-31 | 0002070979-26-000201 ↗ |
| 20-F | 2025-05-15 | 2024-12-31 | 0001628280-25-025640 ↗ |
| 20-F | 2024-04-29 | 2023-12-31 | 0001628280-24-018749 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001628280-23-014243 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001193125-22-124171 ↗ |
| 20-F | 2021-04-28 | 2020-12-31 | 0000950103-21-006262 ↗ |