Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – What’s Next?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) gapped down prior to trading on Monday . The stock had previously closed at $9.53, but opened at $9.31. Icahn Enterprises shares last traded at $9.31, with a volume of 218,604 shares changing hands.

Icahn Enterprises Price Performance

The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -8.51 and a beta of 0.76. The company’s 50-day moving average is $12.16 and its 200-day moving average is $14.12.

Icahn Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Monday, November 18th will be given a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.55%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of large investors have recently bought and sold shares of IEP. Wilmington Savings Fund Society FSB purchased a new position in Icahn Enterprises during the 3rd quarter worth $30,000. Barclays PLC increased its stake in Icahn Enterprises by 24.3% in the 3rd 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. Geode Capital Management LLC boosted its stake in shares of Icahn Enterprises by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock worth $5,518,000 after buying an additional 12,421 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Icahn Enterprises in the third quarter valued at approximately $171,000. Finally, National Bank of Canada FI increased its position in shares of Icahn Enterprises by 12.5% during the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate’s stock valued at $304,000 after acquiring an additional 2,500 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.