Paramount Group (NYSE:PGRE) Sees Large Volume Increase - Still a Buy?

Shares of Paramount Group, Inc. (NYSE:PGRE - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 2,208,960 shares changed hands during trading, an increase of 93% from the previous session's volume of 1,143,092 shares.The stock last traded at $4.23 and had previously closed at $4.17.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Mizuho reduced their target price on Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley reiterated an "underweight" rating and set a $3.25 target price on shares of Paramount Group in a research report on Tuesday, April 15th.

Paramount Group Trading Up 2.8 %

The company has a 50 day moving average of $4.28 and a 200 day moving average of $4.67. The firm has a market cap of $951.44 million, a price-to-earnings ratio of -4.43 and a beta of 1.10. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $186.27 million for the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. As a group, research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current year.

Insider Transactions at Paramount Group

In other Paramount Group news, CEO Albert P. Behler purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $4.15 per share, with a total value of $41,500.00. Following the acquisition, the chief executive officer now directly owns 751,812 shares of the company's stock, valued at approximately $3,120,019.80. This trade represents a 1.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.80% of the company's stock.

Hedge Funds Weigh In On Paramount Group

A number of institutional investors and hedge funds have recently bought and sold shares of PGRE. Vanguard Group Inc. raised its holdings in shares of Paramount Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock valued at $132,999,000 after buying an additional 477,940 shares during the last quarter. Long Pond Capital LP raised its position in shares of Paramount Group by 12.5% during the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock worth $49,663,000 after acquiring an additional 1,116,395 shares during the last quarter. Legal & General Group Plc boosted its holdings in Paramount Group by 2.9% in the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider's stock valued at $24,011,000 after acquiring an additional 135,654 shares during the last quarter. Geode Capital Management LLC increased its position in Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider's stock worth $23,107,000 after purchasing an additional 345,450 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Paramount Group by 11.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider's stock worth $14,304,000 after purchasing an additional 292,392 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company's stock.

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.