Pershing Square (NYSE:PS) Stock Price Down 5.5% – What’s Next?

Pershing Square Inc. (NYSE:PS) was down 5.5% during mid-day trading on Thursday . The company traded as low as $36.60 and last traded at $36.61. Approximately 118,360 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 955,392 shares. The stock had previously closed at $38.74.

Pershing Square Trading Down 4.4%

The company has a market cap of $5.50 billion, a PE ratio of -31.92 and a beta of 2.27.

Insider Activity

In related news, CEO William A. Ackman purchased 800,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the purchase, the chief executive officer owned 1,500,000 shares in the company, valued at $35,655,000. The trade was a 114.29% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.