Icahn Enterprises L.P. (NASDAQ:IEP) Short Interest Down 6.2% in September

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

Icahn Enterprises Price Performance

IEP opened at $13.34 on Wednesday. The company has a 50 day moving average of $14.50 and a two-hundred day moving average of $16.10. Icahn Enterprises has a 52-week low of $9.72 and a 52-week high of $22.59. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.23. The company has a market cap of $6.02 billion, a P/E ratio of -11.63 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.91). Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned ($0.72) earnings per share. On average, analysts expect that Icahn Enterprises will post -0.42 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 29.99%. The ex-dividend date was Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Hedge Funds Weigh In On Icahn Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of IEP. Parallel Advisors LLC lifted its stake in 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 buying an additional 1,145 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Icahn Enterprises by 61.5% during the 2nd 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 during the period. Newbridge Financial Services Group Inc. grew its position in Icahn Enterprises by 35.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,579 shares of the conglomerate’s stock worth $147,000 after purchasing an additional 2,227 shares during the last quarter. Vima LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter valued at approximately $167,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Icahn Enterprises during the fourth quarter valued at approximately $175,000. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.