Pershing Square Inc. (NYSE:PS) Short Interest Down 55.7% in August

Pershing Square Inc. (NYSE:PS) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 232,453 shares, a decrease of 55.7% from the July 30th total of 525,173 shares. Based on an average daily trading volume, of 140,659 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.1% of the company’s shares are sold short.

Pershing Square Price Performance

NYSE PS traded up $0.25 during mid-day trading on Friday, hitting $42.37. The stock had a trading volume of 124,494 shares, compared to its average volume of 160,546. The stock’s 50 day moving average is $36.12. The company has a market capitalization of $16.95 billion and a PE ratio of 302.64. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.

Pershing Square (NYSE:PS) last released its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share 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, sell-side analysts anticipate that Pershing Square will post 0.56 earnings per share for the current year.

Pershing Square Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were issued a dividend of $0.122 per share. This represents a $0.49 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, July 13th. Pershing Square’s payout ratio is currently 342.86%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Wells Fargo & Company dropped their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Tigress Financial began coverage on shares of Pershing Square in a report on Monday, July 27th. They issued a “neutral” rating and a $39.00 price target on the stock. Bank of America started coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price objective on the stock. Finally, Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Two 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. According to MarketBeat.com, Pershing Square currently has a consensus rating of “Hold” and a consensus price target of $40.89.

Institutional Investors Weigh In On Pershing Square

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in shares of Pershing Square in the 2nd quarter valued at approximately $302,000. Wedbush Securities Inc. purchased a new position in Pershing Square in the second quarter worth approximately $529,000. Hsbc Holdings PLC acquired a new position in shares of Pershing Square in the 2nd quarter valued at $775,000. Readystate Asset Management LP acquired a new position in Pershing Square in the second quarter valued at about $822,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Pershing Square in the 2nd quarter valued at approximately $1,459,000.

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.