Pershing Square Inc. (NYSE:PS – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 453,660 shares, a growth of 95.2% from the August 15th total of 232,453 shares. Based on an average daily volume of 181,306 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.1% of the company’s shares are sold short.
Pershing Square Stock Performance
Shares of PS traded up $1.92 during trading on Wednesday, reaching $40.92. 1,903,807 shares of the company traded hands, compared to its average volume of 358,448. The business’s 50-day moving average is $37.58. The firm has a market cap of $16.37 billion and a PE ratio of 292.29. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.
Pershing Square (NYSE:PS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. Sell-side analysts predict that Pershing Square will post 0.56 EPS for the current fiscal year.
Pershing Square Announces Dividend
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Zacks Research raised shares of Pershing Square to a “hold” rating in a research note on Friday, May 29th. Wells Fargo & Company raised their price target on shares of Pershing Square from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. Bank of America assumed coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price target on the stock. Oppenheimer assumed coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada lowered their price objective on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. 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’s stock. Based on data from MarketBeat.com, Pershing Square presently has a consensus rating of “Hold” and a consensus target price of $41.33.
View Our Latest Stock Report on PS
Hedge Funds Weigh In On Pershing Square
Several hedge funds have recently bought and sold shares of PS. Rivernorth Capital Management LLC acquired a new position in Pershing Square in the 2nd quarter valued at about $14,787,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Pershing Square in the 2nd quarter valued at approximately $9,858,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Pershing Square during the second quarter worth $3,828,000. NewEdge Advisors LLC acquired a new stake in shares of Pershing Square in the second quarter valued at $1,702,000. Finally, Proficio Capital Partners LLC purchased a new position in Pershing Square in the second quarter valued at $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.
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