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

Pershing Square Inc. (NYSE:PS) was the target of a large decline in short interest in August. As of August 14th, there was short interest totaling 232,453 shares, a decline of 55.7% from the July 30th total of 525,173 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 140,659 shares, the days-to-cover ratio is presently 1.7 days.

Pershing Square Stock Performance

NYSE PS traded up $0.48 on Monday, reaching $42.65. The stock had a trading volume of 114,063 shares, compared to its average volume of 352,036. The stock has a market capitalization of $17.06 billion and a P/E ratio of 304.64. The stock’s fifty day moving average is $36.12. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94.

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

Pershing Square Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were issued a $0.122 dividend. The ex-dividend date of this dividend was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a yield of 1.1%. Pershing Square’s payout ratio is currently 350.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PS shares. Citigroup downgraded Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, August 19th. Wells Fargo & Company dropped their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Wall Street Zen downgraded Pershing Square from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. JonesTrading increased their price target on Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Finally, Loop Capital began coverage on shares of Pershing Square in a report on Tuesday, May 26th. They issued a “buy” rating and a $49.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Pershing Square currently has an average rating of “Hold” and a consensus price target of $40.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC acquired a new stake in shares of Pershing Square in the second quarter valued at approximately $302,000. Wedbush Securities Inc. bought a new position in Pershing Square during the 2nd quarter worth $529,000. Hsbc Holdings PLC bought a new position in Pershing Square during the 2nd quarter worth $775,000. Readystate Asset Management LP acquired a new stake in shares of Pershing Square during the 2nd quarter worth $822,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square during the 2nd quarter worth $1,459,000.

Pershing Square Company Profile

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.