Investors Buy High Volume of Call Options on Icahn Enterprises (NASDAQ:IEP)

Posted by Defense World Staff on Jun 8th, 2023

Icahn Enterprises L.P. (NASDAQ:IEP – Get Rating) was the recipient of unusually large options trading on Wednesday. Investors acquired 25,982 call options on the company. This is an increase of approximately 86% compared to the typical daily volume of 13,976 call options.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com cut Icahn Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. TheStreet downgraded Icahn Enterprises from a “c-” rating to a “d” rating in a report on Monday, May 22nd.

Hedge Funds Weigh In On Icahn Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Worth Asset Management LLC bought a new position in shares of Icahn Enterprises in the fourth quarter worth $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Icahn Enterprises by 140.8% during the first quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 300 shares during the period. CoreCap Advisors LLC bought a new position in Icahn Enterprises in the fourth quarter worth about $29,000. Global Retirement Partners LLC bought a new position in Icahn Enterprises in the first quarter worth about $29,000. Finally, GPS Wealth Strategies Group LLC bought a new position in Icahn Enterprises in the first quarter worth about $50,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Icahn Enterprises Stock Performance

Shares of Icahn Enterprises stock opened at $27.04 on Thursday. Icahn Enterprises has a one year low of $18.03 and a one year high of $55.16. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of -11.91 and a beta of 0.76. The business has a 50-day simple moving average of $39.66 and a 200 day simple moving average of $47.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.49 and a quick ratio of 5.49.

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, May 22nd will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, May 19th. This represents a $8.00 dividend on an annualized basis and a yield of 29.59%. Icahn Enterprises’s dividend payout ratio (DPR) is currently -352.42%.

About Icahn Enterprises

(Get Rating)

Icahn Enterprises LP operates as holding company. It operates through following eight business segments: Investment, Automotive, Energy, Food Packaging, Metals, Real Estate, Home Fashion, and Pharma. The Investment segment consists of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC.