Pershing Square Inc. (NYSE:PS) Sees Large Decline in Short Interest

by · The Cerbat Gem

Pershing Square Inc. (NYSE:PS – Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 232,453 shares, a decrease of 55.7% from the July 30th total of 525,173 shares. Based on an average trading volume of 140,659 shares, the short-interest ratio is currently 1.7 days. Approximately 0.1% of the company’s shares are short sold.

Analyst Ratings Changes

Several research analysts have recently issued reports on PS shares. Citigroup cut shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Wednesday, August 19th. Loop Capital initiated coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $49.00 price target for the company. Weiss Ratings raised shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Finally, Tigress Financial started coverage on shares of Pershing Square in a research note on Monday, July 27th. They set a “neutral” rating and a $39.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.89.

Get Our Latest Research Report on Pershing Square

Pershing Square Stock Up 0.6%

PS stock traded up $0.25 during midday trading on Friday, hitting $42.37. The stock had a trading volume of 124,494 shares, compared to its average volume of 160,546. The firm has a market capitalization of $16.95 billion and a price-to-earnings ratio of 302.64. Pershing Square has a 52 week low of $22.01 and a 52 week high of $54.94. The stock’s 50-day simple moving average is $36.12.

Pershing Square (NYSE:PS – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $68.03 million during the quarter. Equities analysts forecast that Pershing Square will post 0.56 earnings per share for the current fiscal year.

Pershing Square Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were given a dividend of $0.122 per share. The ex-dividend date of this dividend was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.2%. Pershing Square’s dividend payout ratio (DPR) is currently 350.00%.

Institutional Trading of Pershing Square

Institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Pershing Square in the 2nd quarter valued at about $9,858,000. Equitec Proprietary Markets LLC bought a new stake in Pershing Square in the 2nd quarter valued at $3,828,000. Hsbc Holdings PLC bought a new position in Pershing Square during the second quarter worth about $775,000. Ancora Advisors LLC bought a new stake in shares of Pershing Square in the second quarter valued at approximately $302,000. Finally, Readystate Asset Management LP bought a new position in shares of Pershing Square in the second quarter worth $822,000.

About Pershing Square

(Get Free Report)

Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.

The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.

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