Renaissance Technologies LLC Decreases Position in Paramount Group, Inc. (NYSE:PGRE)

Renaissance Technologies LLC cut its holdings in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 88.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,966 shares of the financial services provider's stock after selling 642,534 shares during the period. Renaissance Technologies LLC's holdings in Paramount Group were worth $375,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PGRE. 1620 Investment Advisors Inc. bought a new position in shares of Paramount Group in the second quarter worth $52,000. Manchester Capital Management LLC boosted its holdings in shares of Paramount Group by 139.1% in the 1st quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 7,061 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Paramount Group by 17.7% in the 1st quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 3,789 shares during the last quarter. MQS Management LLC raised its holdings in shares of Paramount Group by 98.7% during the 1st quarter. MQS Management LLC now owns 27,514 shares of the financial services provider's stock worth $129,000 after buying an additional 13,665 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Paramount Group by 148.7% in the first quarter. EntryPoint Capital LLC now owns 30,511 shares of the financial services provider's stock valued at $143,000 after buying an additional 18,245 shares in the last quarter. 65.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Paramount Group Stock Up 1.2 %

Shares of PGRE traded up $0.06 during trading hours on Friday, reaching $5.00. The stock had a trading volume of 664,246 shares, compared to its average volume of 1,123,547. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.31 and a beta of 1.25. The firm has a 50-day simple moving average of $4.90 and a 200 day simple moving average of $4.79. Paramount Group, Inc. has a 12 month low of $4.06 and a 12 month high of $5.92. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91.

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.