Short Interest in Icahn Enterprises L.P. (NASDAQ:IEP) Drops By 6.2%

Icahn Enterprises L.P. (NASDAQ:IEP) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 9,310,000 shares, a decrease of 6.2% from the August 31st total of 9,930,000 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 7.9 days.

Icahn Enterprises Stock Performance

IEP stock opened at $13.11 on Monday. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -11.40 and a beta of 0.77. The firm has a 50-day simple moving average of $14.58 and a two-hundred day simple moving average of $16.12. Icahn Enterprises has a one year low of $9.72 and a one year high of $22.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.85 and a current ratio of 4.85.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.91). The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted ($0.72) earnings per share. On average, equities analysts forecast that Icahn Enterprises will post -0.42 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, August 19th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 30.51%. The ex-dividend date was Monday, August 19th. Icahn Enterprises’s payout ratio is currently -347.83%.

Hedge Funds Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Icahn Enterprises by 76.4% in the 1st quarter. BNP Paribas Financial Markets now owns 314,888 shares of the conglomerate’s stock valued at $5,356,000 after purchasing an additional 136,418 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Icahn Enterprises by 621.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,995 shares of the conglomerate’s stock valued at $4,610,000 after purchasing an additional 233,410 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Icahn Enterprises by 6.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 109,724 shares of the conglomerate’s stock valued at $1,808,000 after purchasing an additional 6,276 shares during the last quarter. Creative Planning raised its position in shares of Icahn Enterprises by 15.8% in the 2nd quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after purchasing an additional 14,805 shares during the last quarter. Finally, Western Wealth Management LLC raised its position in shares of Icahn Enterprises by 10.5% in the 2nd quarter. Western Wealth Management LLC now owns 38,514 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 3,650 shares during the last quarter. 87.09% of the stock is owned by hedge funds and other institutional investors.

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.