Insider Selling: Paramount Group Inc (NYSE:PGRE) Major Shareholder Sells 16,487 Shares of Stock
Paramount Group Inc (NYSE:PGRE) major shareholder Alexander Otto sold 16,487 shares of Paramount Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $13.49, for a total transaction of $222,409.63. Following the transaction, the insider now owns 13,656,206 shares in the company, valued at approximately $184,222,218.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
PGRE opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.88 and a current ratio of 2.88. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.68 and a beta of 0.77. The company has a fifty day moving average of $13.38 and a 200 day moving average of $13.64. Paramount Group Inc has a fifty-two week low of $12.18 and a fifty-two week high of $15.11.
Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.21). The company had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $190.88 million. Paramount Group had a return on equity of 0.44% and a net margin of 2.77%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Paramount Group Inc will post 0.97 earnings per share for the current year.
Several large investors have recently bought and sold shares of PGRE. Long Pond Capital LP grew its holdings in Paramount Group by 30.3% during the 2nd quarter. Long Pond Capital LP now owns 8,181,308 shares of the financial services provider’s stock valued at $114,620,000 after buying an additional 1,903,023 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Paramount Group by 26.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,099,299 shares of the financial services provider’s stock valued at $71,441,000 after acquiring an additional 1,081,299 shares during the last quarter. Crestline Management LP purchased a new position in shares of Paramount Group in the second quarter valued at $13,353,000. Nuveen Asset Management LLC grew its holdings in shares of Paramount Group by 141.5% in the second quarter. Nuveen Asset Management LLC now owns 1,514,333 shares of the financial services provider’s stock valued at $21,216,000 after purchasing an additional 887,291 shares in the last quarter. Finally, Millennium Management LLC increased its position in Paramount Group by 969.3% in the third quarter. Millennium Management LLC now owns 958,780 shares of the financial services provider’s stock worth $12,799,000 after purchasing an additional 869,117 shares during the last quarter. Institutional investors own 62.90% of the company’s stock.
About Paramount Group
Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.
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