Pershing Square Inc. (NYSE:PS) Sees Significant Growth in Short Interest

Pershing Square Inc. (NYSE:PS) was the target of a significant increase in short interest in the month of 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 shares are short sold.

Analyst Ratings Changes

PS has been the topic of several analyst reports. Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Loop Capital assumed coverage on Pershing Square in a research report on Tuesday, May 26th. They set a “buy” rating and a $49.00 price target on the stock. Wall Street Zen cut Pershing Square from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. UBS Group assumed coverage on Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Zacks Research raised Pershing Square to a “hold” rating in a research note on Friday, May 29th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.33.

Pershing Square Trading Down 1.3%

Pershing Square stock traded down $0.52 during trading hours on Tuesday, hitting $39.45. 221,273 shares of the stock traded hands, compared to its average volume of 353,851. The stock has a market capitalization of $15.78 billion and a P/E ratio of 281.79. The business’s 50-day moving average price is $37.46. Pershing Square has a one year low of $22.01 and a one year high of $54.94.

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

Pershing Square Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors 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 yield of 1.2%. The ex-dividend date of this dividend was Monday, July 13th. Pershing Square’s dividend payout ratio (DPR) is 350.00%.

Hedge Funds Weigh In On Pershing Square

A number of institutional investors have recently bought and sold shares of PS. Integrated Wealth Concepts LLC bought a new position in shares of Pershing Square in the second quarter worth about $132,000. NewEdge Advisors LLC bought a new position in shares of Pershing Square during the second quarter worth $1,702,000. Readystate Asset Management LP purchased a new position in shares of Pershing Square during the second quarter valued at about $822,000. Proficio Capital Partners LLC purchased a new position in Pershing Square during the 2nd quarter valued at approximately $1,459,000. Finally, Ancora Advisors LLC bought a new stake in Pershing Square in the second quarter worth $302,000.

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.