Pershing Square Inc. (NYSE:PS) Short Interest Down 55.7% in August

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

Hedge Funds Weigh In On Pershing Square

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

Analysts Set New Price Targets

PS has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Oppenheimer assumed coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They issued a “market perform” rating for the company. JonesTrading increased their price objective on Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Citigroup cut Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.89.

Pershing Square Stock Performance

Shares of Pershing Square stock traded up $0.25 during trading hours on Friday, hitting $42.37. The company had a trading volume of 124,494 shares, compared to its average volume of 160,546. The company’s 50-day moving average price is $36.12. The firm has a market cap of $16.95 billion and a P/E ratio of 302.64. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.

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

Pershing Square Announces Dividend

The business 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. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, July 13th. Pershing Square’s dividend payout ratio (DPR) is presently 342.86%.

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.