Icahn Enterprises Sees Unusually High Options Volume (NASDAQ:IEP)

Icahn Enterprises L.P. (NASDAQ:IEP – Get Rating) was the recipient of unusually large options trading activity on Friday. Stock investors bought 11,783 put options on the company. This is an increase of approximately 41% compared to the typical daily volume of 8,329 put options.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Friday, May 12th.

Institutional Investors Weigh In On Icahn Enterprises

Several institutional investors have recently added to or reduced their stakes in IEP. Worth Asset Management LLC purchased a new stake in shares of Icahn Enterprises in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Icahn Enterprises by 140.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 300 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Icahn Enterprises in the 4th quarter worth about $29,000. Global Retirement Partners LLC purchased a new stake in shares of Icahn Enterprises in the 1st quarter worth about $29,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in Icahn Enterprises during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Icahn Enterprises Price Performance

IEP stock opened at $32.22 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.49 and a current ratio of 5.49. Icahn Enterprises has a 52 week low of $28.29 and a 52 week high of $55.16. The firm’s fifty day moving average is $46.77 and its 200 day moving average is $50.59. The firm has a market cap of $11.90 billion, a P/E ratio of -14.19 and a beta of 0.75.

Icahn Enterprises (NASDAQ:IEP – Get Rating) last released its earnings results on Friday, February 24th. The conglomerate reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). Icahn Enterprises had a negative net margin of 6.08% and a negative return on equity of 8.15%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.97 billion. Research analysts predict that Icahn Enterprises will post 0.1 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $8.00 annualized dividend and a yield of 24.83%. Icahn Enterprises’s payout ratio is currently -352.42%.

Icahn Enterprises Company Profile

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Icahn Enterprises LP operates as holding company. It operates through following eight business segments: Investment, Automotive, Energy, Food Packaging, Metals, Real Estate, Home Fashion, and Pharma. The Investment segment consists of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC.