Short Interest in Icahn Enterprises L.P. (NASDAQ:IEP) Rises By 6.8%

Icahn Enterprises L.P. (NASDAQ:IEP) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 11,780,000 shares, an increase of 6.8% from the October 31st total of 11,030,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 9.4 days. Currently, 2.3% of the company’s shares are sold short.

Icahn Enterprises Price Performance

Shares of IEP opened at $10.82 on Thursday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. Icahn Enterprises has a 1 year low of $9.72 and a 1 year high of $22.59. The stock has a market cap of $5.45 billion, a P/E ratio of -9.92 and a beta of 0.75. The stock’s 50-day moving average price is $13.01 and its two-hundred day moving average price is $14.68.

Icahn Enterprises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 18.49%. The ex-dividend date of this dividend is Monday, November 18th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -183.48%.

Hedge Funds Weigh In On Icahn Enterprises

Several institutional investors have recently modified their holdings of IEP. Crew Capital Management Ltd. bought a new position in shares of Icahn Enterprises during the 2nd quarter valued at about $628,000. Tempus Wealth Planning LLC bought a new position in shares of Icahn Enterprises during the 3rd quarter valued at about $418,000. Meridian Wealth Management LLC bought a new position in shares of Icahn Enterprises during the 3rd quarter valued at about $272,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Icahn Enterprises during the 1st quarter valued at about $296,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Icahn Enterprises during the 3rd quarter valued at about $203,000. Institutional investors own 87.09% of the company’s stock.

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.