Icahn Enterprises (NASDAQ:IEP) Sees Large Volume Increase – Should You Buy?

Icahn Enterprises L.P. (NASDAQ:IEP) saw unusually-high trading volume on Tuesday . Approximately 2,062,329 shares changed hands during trading, an increase of 121% from the previous session’s volume of 931,621 shares.The stock last traded at $8.64 and had previously closed at $8.87.

Icahn Enterprises Stock Performance

The company has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $13.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The stock has a market cap of $4.37 billion, a P/E ratio of -7.95 and a beta of 0.75.

Icahn Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Monday, November 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 23.07%. The ex-dividend date was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.49%.

Institutional Trading of Icahn Enterprises

Several institutional investors have recently added to or reduced their stakes in IEP. Commonwealth Equity Services LLC increased its stake in shares of Icahn Enterprises by 6.1% in the second quarter. Commonwealth Equity Services LLC now owns 109,724 shares of the conglomerate’s stock worth $1,808,000 after buying an additional 6,276 shares during the period. Stablepoint Partners LLC increased its position in shares of Icahn Enterprises by 12.2% in the second quarter. Stablepoint Partners LLC now owns 25,000 shares of the conglomerate’s stock valued at $433,000 after acquiring an additional 2,719 shares during the period. Vima LLC bought a new position in shares of Icahn Enterprises during the second quarter valued at about $220,000. Insigneo Advisory Services LLC purchased a new stake in shares of Icahn Enterprises during the second quarter worth about $201,000. Finally, Creative Planning grew its stake in shares of Icahn Enterprises by 15.8% in the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock worth $1,786,000 after purchasing an additional 14,805 shares during the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

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.