Icahn Enterprises L.P. (NASDAQ:IEP) Sees Significant Increase in Short Interest

Icahn Enterprises L.P. (NASDAQ:IEP) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 8,840,000 shares, an increase of 20.1% from the July 31st total of 7,360,000 shares. Based on an average daily trading volume, of 783,300 shares, the days-to-cover ratio is currently 11.3 days. Approximately 1.9% of the shares of the company are short sold.

Icahn Enterprises Stock Performance

NASDAQ:IEP opened at $13.27 on Friday. The company’s 50-day moving average price is $16.43 and its 200-day moving average price is $17.20. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.17. The company has a market cap of $5.99 billion, a P/E ratio of -11.54 and a beta of 0.80. Icahn Enterprises has a twelve month low of $12.70 and a twelve month high of $22.59.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative return on equity of 7.04% and a negative net margin of 4.30%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm earned ($0.72) earnings per share. On average, sell-side analysts forecast that Icahn Enterprises will post 0.53 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 30.14%. The ex-dividend date of this dividend is Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is -347.83%.

Institutional Investors Weigh In On Icahn Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Spire Wealth Management grew its holdings in shares of Icahn Enterprises by 100.0% in the first quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Icahn Enterprises by 133.0% in the fourth quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 1,145 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Icahn Enterprises by 61.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 1,083 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Icahn Enterprises in the fourth quarter valued at approximately $86,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Icahn Enterprises by 35.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,579 shares of the conglomerate’s stock valued at $147,000 after purchasing an additional 2,227 shares in the last quarter. 87.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th.

About Icahn Enterprises

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.