Pershing Square (NYSE:PS) Stock Falls 7.7% – Should You Sell?

Pershing Square Inc. (NYSE:PS) shares fell 7.7% on Tuesday. The company traded as low as $54.50 and last traded at $54.64. Approximately 95,979 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 430,450 shares. The stock had previously closed at $59.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price target on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Tigress Financial raised their price objective on shares of Pershing Square from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Citigroup downgraded shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, August 19th. JonesTrading restated a “hold” rating on shares of Pershing Square in a report on Tuesday. Finally, Weiss Ratings raised Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pershing Square currently has a consensus rating of “Hold” and an average price target of $41.33.

Pershing Square Stock Performance

The company’s 50-day moving average is $40.32. The stock has a market cap of $21.66 billion and a price-to-earnings ratio of 386.79.

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

Pershing Square Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were paid a dividend of $0.1220 per share. The ex-dividend date was Monday, July 13th. This represents a $0.49 annualized dividend and a dividend yield of 0.9%. Pershing Square’s dividend payout ratio is 350.00%.

Hedge Funds Weigh In On Pershing Square

Institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Pershing Square during the 2nd quarter worth approximately $132,000. NewEdge Advisors LLC acquired a new stake in Pershing Square in the 2nd quarter valued at about $1,702,000. Readystate Asset Management LP bought a new position in Pershing Square in the second quarter valued at about $822,000. Proficio Capital Partners LLC acquired a new position in Pershing Square in the second quarter valued at approximately $1,459,000. Finally, Ancora Advisors LLC bought a new position in shares of Pershing Square in the 2nd quarter worth $302,000.

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. Rather than operating a conventional commercial business, the company invests shareholder capital in a concentrated portfolio of publicly traded companies.

The fund seeks long-term capital appreciation by investing primarily in large, established North American businesses. Its investment approach emphasizes fundamental research, a limited number of high-conviction holdings, and active engagement with portfolio companies when appropriate.

Pershing Square USA is managed by Pershing Square Capital Management, an investment management firm founded by William A.