Paramount Group (NYSE:PGRE) Shares Gap Down to $5.17

Paramount Group, Inc. (NYSE:PGRE) shares gapped down prior to trading on Friday . The stock had previously closed at $5.17, but opened at $5.04. Paramount Group shares last traded at $5.11, with a volume of 440,704 shares.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Paramount Group presently has a consensus rating of “Hold” and an average target price of $4.70.

Paramount Group Price Performance

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -4.46, a P/E/G ratio of 0.24 and a beta of 1.25. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. The stock’s fifty day moving average price is $4.98 and its 200-day moving average price is $4.76.

Institutional Trading of Paramount Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in Paramount Group during the second quarter worth $52,000. Manchester Capital Management LLC lifted its stake in Paramount Group by 139.1% during the 1st quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 7,061 shares in the last quarter. Marshall Wace LLP purchased a new position in Paramount Group during the 2nd quarter valued at about $74,000. Great Lakes Advisors LLC acquired a new position in Paramount Group in the 4th quarter valued at about $85,000. Finally, Team Hewins LLC acquired a new position in Paramount Group in the 4th quarter valued at about $112,000. 65.64% of the stock is owned by institutional investors and hedge funds.

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.