Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) saw unusually-high trading volume on Thursday . Approximately 281,407 shares were traded during mid-day trading, a decline of 68% from the previous session’s volume of 867,172 shares.The stock last traded at $9.42 and had previously closed at $9.11.

Icahn Enterprises Stock Performance

The company has a market capitalization of $4.82 billion, a PE ratio of -8.76 and a beta of 0.80. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The business’s 50-day moving average is $10.34 and its 200-day moving average is $13.23.

Icahn Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Monday, November 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.91%. Icahn Enterprises’s dividend payout ratio is currently -183.48%.

Hedge Funds Weigh In On Icahn Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC boosted its stake in Icahn Enterprises by 6.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock valued at $192,000 after purchasing an additional 855 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Icahn Enterprises by 61.5% during 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. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after buying an additional 1,427 shares during the last quarter. PSI Advisors LLC increased its holdings in Icahn Enterprises by 4.8% in the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock worth $426,000 after buying an additional 1,455 shares in the last quarter. Finally, United Advisor Group LLC increased its holdings in Icahn Enterprises by 7.7% in the 3rd quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock worth $391,000 after buying an additional 2,079 shares in the last quarter. 87.09% of the stock is currently owned by 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.