Pershing Square (NYSE:PS) Coverage Initiated at Oppenheimer

Analysts at Oppenheimer started coverage on shares of Pershing Square (NYSE:PS) in a research note issued to investors on Tuesday. The firm set a “market perform” rating on the stock.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada began coverage on shares of Pershing Square in a research report on Tuesday. They issued a “sector perform” rating and a $40.00 price objective for the company. UBS Group began coverage on shares of Pershing Square in a research report on Tuesday. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of Pershing Square in a research report on Monday. They issued a “hold” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.00.

Pershing Square Trading Down 0.5%

Shares of NYSE PS opened at $35.50 on Tuesday. Pershing Square has a 12-month low of $22.01 and a 12-month high of $54.94. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -30.60 and a beta of 2.27.

Insider Buying and Selling

In related news, CEO William A. Ackman purchased 800,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the transaction, the chief executive officer owned 1,500,000 shares of the company’s stock, valued at approximately $35,655,000. This trade represents a 114.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.79% of the company’s stock.

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.