Pershing Square Inc. (NYSE:PS) Short Interest Update

Pershing Square Inc. (NYSE:PS) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 453,660 shares, an increase of 95.2% from the August 15th total of 232,453 shares. Based on an average daily trading volume, of 181,306 shares, the short-interest ratio is currently 2.5 days. Approximately 0.1% of the company’s stock are sold short.

Pershing Square Stock Performance

PS stock traded up $0.93 during midday trading on Thursday, hitting $41.94. The company’s stock had a trading volume of 186,712 shares, compared to its average volume of 370,501. The business has a 50-day simple moving average of $37.73. 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 $16.78 billion and a P/E ratio of 299.57.

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

Pershing Square Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were paid a dividend of $0.122 per share. The ex-dividend date was Monday, July 13th. This represents a $0.49 annualized dividend and a yield of 1.2%. Pershing Square’s dividend payout ratio is currently 350.00%.

Analyst Ratings Changes

Several research firms have commented on PS. Tigress Financial boosted their target price on Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Jefferies Financial Group started coverage on Pershing Square in a research report on Monday, May 25th. They issued a “hold” rating and a $40.00 price target for the company. Wall Street Zen cut shares of Pershing Square from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. Zacks Research raised shares of Pershing Square to a “hold” rating in a research report on Friday, May 29th. Finally, JonesTrading raised their price objective on shares of Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.33.

Institutional Trading of Pershing Square

A number of large investors have recently made changes to their positions in PS. Rivernorth Capital Management LLC purchased a new stake in Pershing Square in the second quarter worth approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Pershing Square during the 2nd quarter valued at $9,858,000. Equitec Proprietary Markets LLC purchased a new position in shares of Pershing Square in the 2nd quarter worth $3,828,000. NewEdge Advisors LLC purchased a new position in shares of Pershing Square in the 2nd quarter worth $1,702,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Pershing Square in the second quarter worth $1,459,000.

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.