Pershing Square Inc. (NYSE:PS) Stock Short Interest Jumps 185.5%

Pershing Square Inc. (NYSE:PS) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 2,370,595 shares, an increase of 185.5% from the September 15th total of 830,406 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,086,041 shares, the short-interest ratio is presently 2.2 days.

Pershing Square Stock Performance

Shares of NYSE:PS traded down $6.66 during mid-day trading on Tuesday, hitting $47.56. 405,058 shares of the company traded hands, compared to its average volume of 419,823. The stock’s 50 day moving average price is $44.72. The firm has a market capitalization of $19.02 billion and a price-to-earnings ratio of 339.71. Pershing Square has a 52-week low of $22.01 and a 52-week high of $60.40.

Pershing Square (NYSE:PS) last released its quarterly 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 company had revenue of $68.03 million during the quarter. On average, equities analysts expect that Pershing Square will post 0.55 earnings per share for the current fiscal year.

Pershing Square Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 12th will be given a dividend of $0.1030 per share. The ex-dividend date of this dividend is Friday, October 9th. This is a decrease from Pershing Square’s previous quarterly dividend of $0.1220. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.9%. Pershing Square’s dividend payout ratio is presently 292.86%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JonesTrading downgraded shares of Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Citigroup lowered shares of Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Friday. Royal Bank Of Canada upped their price target on shares of Pershing Square from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Monday, October 5th. Tigress Financial increased their price target on Pershing Square from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, Wells Fargo & Company started coverage on Pershing Square in a research report on Thursday, October 1st. They issued an “underweight” rating and a $41.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $42.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PS. Integrated Wealth Concepts LLC purchased a new position in Pershing Square during the second quarter worth about $132,000. Ancora Advisors LLC purchased a new stake in shares of Pershing Square in the 2nd quarter valued at approximately $302,000. Wedbush Securities Inc. acquired a new position in shares of Pershing Square in the 2nd quarter worth approximately $529,000. Hsbc Holdings PLC acquired a new stake in Pershing Square in the 2nd quarter valued at approximately $775,000. Finally, Readystate Asset Management LP purchased a new stake in Pershing Square in the second quarter valued at approximately $822,000.

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. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.