Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume

Icahn Enterprises L.P. (NASDAQ:IEP) saw unusually-high trading volume on Thursday . Approximately 434,001 shares changed hands during mid-day trading, a decline of 45% from the previous session’s volume of 783,525 shares.The stock last traded at $11.69 and had previously closed at $12.21.

Icahn Enterprises Stock Down 5.4 %

The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The business has a 50 day simple moving average of $16.00 and a 200 day simple moving average of $16.89. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -9.17 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.91). The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. During the same period in the prior year, the firm earned ($0.72) earnings per share. As a group, equities analysts predict that Icahn Enterprises L.P. will post -0.42 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 37.91%. Icahn Enterprises’s dividend payout ratio (DPR) is -347.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its stake in Icahn Enterprises by 6.0% in the fourth quarter. National Bank of Canada FI now owns 10,600 shares of the conglomerate’s stock worth $187,000 after acquiring an additional 600 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Icahn Enterprises by 4,461,650.0% during the 4th quarter. BNP Paribas Financial Markets now owns 178,470 shares of the conglomerate’s stock worth $3,068,000 after purchasing an additional 178,466 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Icahn Enterprises during the fourth quarter worth $2,675,000. Avantax Advisory Services Inc. purchased a new position in Icahn Enterprises in the fourth quarter valued at $375,000. Finally, PNC Financial Services Group Inc. raised its stake in Icahn Enterprises by 3.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,353 shares of the conglomerate’s stock valued at $264,000 after buying an additional 537 shares in the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.