Pershing Square Inc. (NYSE:PS) Stock Short Interest Report for September

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

Institutional Trading of Pershing Square

Several institutional investors have recently added to or reduced their stakes in PS. Rivernorth Capital Management LLC bought a new position in shares of Pershing Square in the second quarter worth about $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Pershing Square during the 2nd quarter valued at approximately $9,858,000. Equitec Proprietary Markets LLC bought a new stake in shares of Pershing Square during the 2nd quarter valued at approximately $3,828,000. NewEdge Advisors LLC bought a new stake in shares of Pershing Square during the 2nd quarter valued at approximately $1,702,000. Finally, Proficio Capital Partners LLC acquired a new position in Pershing Square during the 2nd quarter worth approximately $1,459,000.

Analyst Ratings Changes

PS has been the topic of a number of research reports. Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wells Fargo & Company started coverage on shares of Pershing Square in a report on Thursday, October 1st. They set an “underweight” rating and a $41.00 price target for the company. Citigroup downgraded shares of Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 price objective on the stock. in a research report on Friday, October 9th. Tigress Financial upped their price objective on shares of Pershing Square from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of Pershing Square from a “hold” rating to a “sell” rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $42.11.

Pershing Square Stock Down 12.3%

NYSE:PS opened at $47.56 on Wednesday. Pershing Square has a 1 year low of $22.01 and a 1 year high of $60.40. The firm has a 50 day moving average price of $44.72. The company has a market capitalization of $19.02 billion and a PE ratio of 339.71.

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

Pershing Square Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 12th will be issued a dividend of $0.1030 per share. This represents a $0.41 annualized dividend and a yield of 0.9%. 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. Pershing Square’s payout ratio is 292.86%.

About Pershing Square

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.