Connor Clark & Lunn Investment Management Ltd. Buys 316,399 Shares of Paramount Group, Inc. (NYSE:PGRE)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 782.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 356,825 shares of the financial services provider’s stock after purchasing an additional 316,399 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Paramount Group worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PGRE. 1620 Investment Advisors Inc. purchased a new stake in Paramount Group in the second quarter worth $52,000. Ground Swell Capital LLC bought a new position in shares of Paramount Group during the 3rd quarter worth $67,000. Marshall Wace LLP purchased a new stake in Paramount Group in the 2nd quarter worth about $74,000. Metis Global Partners LLC raised its stake in Paramount Group by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 5,039 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Paramount Group during the third quarter valued at about $106,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Up 1.9 %

Shares of NYSE PGRE opened at $4.84 on Tuesday. 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 company has a market cap of $1.05 billion, a P/E ratio of -5.03 and a beta of 1.25. Paramount Group, Inc. has a 52 week low of $4.21 and a 52 week high of $5.92. The business has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $4.88.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target 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.