25,000 Shares in Pershing Square Inc. $PS Acquired by Readystate Asset Management LP

Readystate Asset Management LP acquired a new stake in Pershing Square Inc. (NYSE:PS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the company’s stock, valued at approximately $822,000.

Other institutional investors have also recently bought and sold shares of the company. Ancora Advisors LLC bought a new stake in shares of Pershing Square during the 2nd quarter valued at $302,000. Wedbush Securities Inc. acquired a new position in shares of Pershing Square in the 2nd quarter valued at $529,000. Hsbc Holdings PLC bought a new position in shares of Pershing Square in the 2nd quarter worth $775,000. Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square during the second quarter worth $1,459,000. Finally, Equitec Proprietary Markets LLC acquired a new stake in shares of Pershing Square during the second quarter worth $3,828,000.

Analyst Ratings Changes

Several equities analysts have weighed in on PS shares. Bank of America initiated coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 target price on the stock. JonesTrading boosted their target price on Pershing Square from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Weiss Ratings raised Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Citigroup downgraded shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada decreased their price objective on shares of Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.33.

Pershing Square Trading Down 1.2%

NYSE PS opened at $38.62 on Tuesday. The business’s 50 day simple moving average is $36.94. Pershing Square Inc. has a 52-week low of $22.01 and a 52-week high of $54.94. The company has a market cap of $15.45 billion and a PE ratio of 275.86.

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

Pershing Square Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were given a $0.122 dividend. This represents a $0.49 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, July 13th. Pershing Square’s payout ratio is currently 350.00%.

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.