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

Key Points

• Short interest surged 185.5% to 2.37 million shares as of September 30, representing 0.8% of shares outstanding and 2.2 days of average trading volume.
• Pershing Square shares opened at $54.53, with a market capitalization of $21.81 billion and a 12-month trading range of $22.01 to $60.40. The company exceeded quarterly EPS expectations, reporting $0.14 versus the $0.12 consensus.
• The quarterly dividend was reduced to $0.103 per share from $0.122, implying a 0.8% yield. Analysts have a consensus “Reduce” rating and an average price target of $42.56.

Pershing Square Inc. (NYSE:PS - Get Free Report) was the recipient of a large increase in short interest in the month of 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. Based on an average trading volume of 1,086,041 shares, the short-interest ratio is currently 2.2 days. Currently, 0.8% of the shares of the company are sold short.

Pershing Square Stock Performance

PS stock opened at $54.53 on Monday. The company has a 50-day simple moving average of $44.11. Pershing Square has a 12 month low of $22.01 and a 12 month high of $60.40. The firm has a market cap of $21.81 billion and a P/E ratio of 389.50.

Pershing Square (NYSE:PS - Get Free Report) 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 during the quarter. As a group, analysts anticipate that Pershing Square will post 0.55 earnings per share for the current year.

Pershing Square Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 12th will be given a dividend of $0.1030 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.8%. 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 dividend payout ratio is 292.86%.

Institutional Investors Weigh In On Pershing Square

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PS shares. Weiss Ratings raised shares of Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Citigroup cut shares of Pershing Square from a "neutral" rating to a "sell" rating and set a $45.00 price objective for the company. in a report on Friday. Tigress Financial lifted their price target on Pershing Square from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. JonesTrading cut Pershing Square from a "buy" rating to a "hold" rating in a report on Tuesday, September 29th. Finally, Wall Street Zen downgraded Pershing Square from a "hold" rating to a "sell" rating in a research report on Sunday. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $42.56.

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.

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