Proficio Capital Partners LLC Takes $1.46 Million Position in Pershing Square Inc. $PS

Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square Inc. (NYSE:PS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,400 shares of the company’s stock, valued at approximately $1,459,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rivernorth Capital Management LLC acquired a new position in Pershing Square in the 2nd quarter valued at $14,787,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Pershing Square during the second quarter worth $9,858,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Pershing Square in the second quarter valued at $3,828,000. Hsbc Holdings PLC purchased a new stake in shares of Pershing Square in the second quarter valued at $775,000. Finally, Wedbush Securities Inc. acquired a new position in Pershing Square in the second quarter valued at $529,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Tigress Financial started coverage on Pershing Square in a research report on Monday, July 27th. They set a “neutral” rating and a $39.00 target price on the stock. UBS Group assumed coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They set a “neutral” rating and a $39.00 price objective for the company. Citigroup lowered shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, August 19th. Bank of America initiated coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Pershing Square in a report on Tuesday, May 26th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pershing Square has an average rating of “Hold” and an average price target of $40.89.

Pershing Square Price Performance

NYSE:PS opened at $38.33 on Wednesday. Pershing Square Inc. has a twelve month low of $22.01 and a twelve month high of $54.94. The company’s fifty day simple moving average is $36.42. The firm has a market cap of $15.33 billion and a price-to-earnings ratio of 273.79.

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

Pershing Square Dividend Announcement

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

About Pershing Square

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.