Pershing Square Inc.’s Quiet Period To End on June 8th (NYSE:PS)

Pershing Square’s (NYSE:PS) quiet period will end on Monday, June 8th. Pershing Square had issued 40,516,960 shares in its initial public offering on April 29th. The total size of the offering was $2,025,848,000 based on an initial share price of $50.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PS shares. Bank of America started coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 price objective on the stock. Wells Fargo & Company started coverage on Pershing Square in a report on Tuesday, May 26th. They issued an “equal weight” rating and a $37.00 price objective on the stock. 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 on the stock. Citigroup began coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Pershing Square in a report on Monday, May 25th. They set a “hold” rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.43.

Pershing Square Trading Down 0.6%

PS opened at $39.35 on Monday. Pershing Square has a one year low of $22.01 and a one year high of $54.94. The stock has a market capitalization of $5.84 billion, a PE ratio of -40.57 and a beta of 2.27.

Insider Activity at Pershing Square

In other Pershing Square news, CEO William A. Ackman acquired 800,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the acquisition, the chief executive officer owned 1,500,000 shares in the company, valued at $35,655,000. The trade was a 114.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.79% of the company’s stock.

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.