Pershing Square Inc. (NYSE:PS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Pershing Square has an average analyst recommendation of “Hold”, based on coverage from 10 analysts: seven rate it Hold and three rate it Buy. The average 12-month price target is $41.13.
• CEO William A. Ackman bought 800,000 shares at an average price of $23.77, increasing his ownership by 114.29% to 1.5 million shares. The filing highlights significant insider ownership, which stands at 21.79%.
• The stock recently traded at $35.97 and was up 5.4%, while the company also announced a quarterly dividend of $0.122 per share payable July 21, implying an annualized yield of about 1.4%.

Pershing Square Inc. (NYSE:PS - Get Free Report) has been given an average recommendation of "Hold" by the ten analysts that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $41.1250.

PS has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Pershing Square in a research report on Tuesday, May 26th. They set a "market perform" rating on the stock. JonesTrading began coverage on Pershing Square in a research report on Wednesday, July 8th. They issued a "buy" rating and a $39.00 price objective for the company. Citigroup cut their price target on Pershing Square from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday. UBS Group started coverage on Pershing Square in a report on Tuesday, May 26th. They issued a "neutral" rating and a $39.00 price objective for the company. Finally, Zacks Research upgraded Pershing Square to a "hold" rating in a report on Friday, May 29th.

Insider Buying and Selling

In other Pershing Square news, CEO William A. Ackman bought 800,000 shares of the firm's stock in a transaction that occurred on 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 owned 1,500,000 shares in the company, valued at approximately $35,655,000. This trade represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.79% of the company's stock.

Pershing Square Stock Up 5.4%

NYSE PS opened at $35.97 on Wednesday. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94. The business's 50-day simple moving average is $36.07. The firm has a market cap of $14.39 billion, a PE ratio of -40.21 and a beta of 2.27.

Pershing Square Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th will be given a dividend of $0.122 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a yield of 1.4%.

Pershing Square Company Profile

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.

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