Algert Global LLC Increases Stock Position in Paramount Group, Inc. (NYSE:PGRE)

Algert Global LLC boosted its holdings in Paramount Group, Inc. (NYSE:PGRE) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,690 shares of the financial services provider’s stock after buying an additional 7,437 shares during the period. Algert Global LLC owned approximately 0.15% of Paramount Group worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new position in shares of Paramount Group in the second quarter worth $52,000. Ground Swell Capital LLC purchased a new stake in Paramount Group during the 3rd quarter worth about $67,000. Marshall Wace LLP bought a new position in Paramount Group in the 2nd quarter worth about $74,000. Metis Global Partners LLC grew its holdings in Paramount Group by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock valued at $89,000 after buying an additional 5,039 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Paramount Group during the third quarter valued at about $106,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Price Performance

Paramount Group stock opened at $4.90 on Thursday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -4.99 and a beta of 1.25. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The business has a 50-day simple moving average of $5.00 and a 200 day simple moving average of $4.88. Paramount Group, Inc. has a 52 week low of $4.21 and a 52 week high of $5.92.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their price objective on shares of Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th.

Paramount Group Company Profile

Paramount Group, Inc (“Paramount” or the “Company”) is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.