Pershing Square (NYSE:PS) Downgraded by Wall Street Zen to Sell

Pershing Square (NYSE:PS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

A number of other research analysts also recently issued reports on PS. Oppenheimer started coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They set a “market perform” rating on the stock. Jefferies Financial Group started coverage on shares of Pershing Square in a report on Monday, May 25th. They set a “hold” rating and a $40.00 price objective on the stock. Royal Bank Of Canada started coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “sector perform” rating and a $40.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set an “equal weight” rating and a $37.00 price objective on the stock. Finally, Loop Capital started coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “buy” rating and a $49.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.43.

Pershing Square Stock Down 6.9%

Pershing Square stock opened at $35.66 on Friday. Pershing Square has a 12-month low of $22.01 and a 12-month high of $54.94.

Insiders Place Their Bets

In other news, CEO William A. Ackman bought 800,000 shares of Pershing Square stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the purchase, the chief executive officer directly owned 1,500,000 shares in the company, valued at $35,655,000. The trade was a 114.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.