Icahn Enterprises L.P. (NASDAQ:IEP) Shares Purchased by Paragon Capital Management Ltd

Paragon Capital Management Ltd boosted its stake in Icahn Enterprises L.P. (NASDAQ:IEP) by 137.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,177 shares of the conglomerate’s stock after purchasing an additional 7,050 shares during the period. Paragon Capital Management Ltd’s holdings in Icahn Enterprises were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IEP. BNP Paribas Arbitrage SA grew its stake in shares of Icahn Enterprises by 4,112.8% in the first quarter. BNP Paribas Arbitrage SA now owns 334,579 shares of the conglomerate’s stock worth $17,375,000 after acquiring an additional 326,637 shares in the last quarter. Morgan Stanley grew its stake in shares of Icahn Enterprises by 53.0% in the fourth quarter. Morgan Stanley now owns 837,448 shares of the conglomerate’s stock worth $42,417,000 after acquiring an additional 290,199 shares in the last quarter. BNP Paribas Arbitrage SNC grew its stake in shares of Icahn Enterprises by 185.9% in the first quarter. BNP Paribas Arbitrage SNC now owns 158,279 shares of the conglomerate’s stock worth $8,185,000 after acquiring an additional 102,911 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Icahn Enterprises during the first quarter worth $3,375,000. Finally, UBS Group AG grew its stake in shares of Icahn Enterprises by 81.2% during the fourth quarter. UBS Group AG now owns 80,923 shares of the conglomerate’s stock worth $4,099,000 after purchasing an additional 36,268 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Icahn Enterprises Stock Performance

IEP traded up $0.18 on Friday, reaching $20.91. The company had a trading volume of 758,297 shares, compared to its average volume of 1,587,588. Icahn Enterprises L.P. has a 1 year low of $18.03 and a 1 year high of $55.10. The stock has a market capitalization of $8.23 billion, a PE ratio of -8.10 and a beta of 0.91. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $25.89 and a 200-day moving average price of $34.88.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Friday, August 4th. The conglomerate reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.97). Icahn Enterprises had a negative net margin of 7.77% and a negative return on equity of 10.45%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.66 billion. As a group, research analysts forecast that Icahn Enterprises L.P. will post -0.74 EPS for the current fiscal year.

Icahn Enterprises Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Friday, August 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 19.13%. Icahn Enterprises’s payout ratio is -155.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Icahn Enterprises from $43.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, August 7th. TheStreet downgraded shares of Icahn Enterprises from a “c-” rating to a “d” rating in a research note on Monday, May 22nd. Finally, StockNews.com started coverage on shares of Icahn Enterprises in a research note on Thursday, August 17th. They set a “hold” rating for the company.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company's Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.