Pershing Square (NYSE:PS) Stock Price Down 5.5% – Here’s What Happened

Pershing Square Inc. (NYSE:PS) shares fell 5.5% on Thursday . The stock traded as low as $36.60 and last traded at $36.61. 118,360 shares changed hands during trading, a decline of 88% from the average session volume of 955,392 shares. The stock had previously closed at $38.74.

Pershing Square Price Performance

The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -30.60 and a beta of 2.27.

Insider Activity at Pershing Square

In other Pershing Square news, CEO William A. Ackman bought 800,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,500,000 shares in the company, valued at approximately $35,655,000. This represents a 114.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.79% of the stock is currently owned by company insiders.

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.