Icahn Enterprises Target of Unusually High Options Trading (NASDAQ:IEP)

Icahn Enterprises L.P. (NASDAQ:IEP) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 11,117 call options on the company. This is an increase of approximately 153% compared to the typical volume of 4,392 call options.

Icahn Enterprises Price Performance

Shares of IEP stock traded down $0.16 during mid-day trading on Wednesday, hitting $15.59. 854,614 shares of the stock traded hands, compared to its average volume of 709,655. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.62 and a current ratio of 4.62. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of -13.70 and a beta of 0.80. The company’s 50-day simple moving average is $16.70 and its 200-day simple moving average is $17.43. Icahn Enterprises has a twelve month low of $14.69 and a twelve month high of $22.59.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned ($0.72) EPS. As a group, equities research analysts expect that Icahn Enterprises will post 0.53 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, August 19th will be given a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 25.66%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Analyst Ratings Changes

Separately, StockNews.com cut Icahn Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management increased its stake in Icahn Enterprises by 100.0% in the 1st quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Parallel Advisors LLC increased its stake 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 worth $34,000 after acquiring an additional 1,145 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 worth $47,000 after acquiring an additional 1,083 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in Icahn Enterprises during the fourth quarter valued at $86,000. Finally, Newbridge Financial Services Group Inc. grew its stake in 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. Hedge funds and other 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.