International Assets Investment Management LLC Buys Shares of 171,638 Icahn Enterprises L.P. $IEP

International Assets Investment Management LLC bought a new stake in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 171,638 shares of the conglomerate's stock, valued at approximately $1,382,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IEP. Spire Wealth Management lifted its holdings in Icahn Enterprises by 57.1% in the 1st quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock valued at $50,000 after purchasing an additional 2,000 shares in the last quarter. Summit Securities Group LLC lifted its holdings in Icahn Enterprises by 187.6% in the 1st quarter. Summit Securities Group LLC now owns 10,300 shares of the conglomerate's stock valued at $93,000 after purchasing an additional 6,719 shares in the last quarter. WMG Financial Advisors LLC purchased a new position in Icahn Enterprises in the 1st quarter valued at about $95,000. Arrow Investment Advisors LLC lifted its holdings in shares of Icahn Enterprises by 17.7% during the 2nd quarter. Arrow Investment Advisors LLC now owns 17,815 shares of the conglomerate's stock worth $143,000 after acquiring an additional 2,677 shares during the period. Finally, Paragon Capital Management Ltd lifted its holdings in shares of Icahn Enterprises by 12.5% during the 2nd quarter. Paragon Capital Management Ltd now owns 19,410 shares of the conglomerate's stock worth $156,000 after acquiring an additional 2,163 shares during the period. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Stock Up 1.6%

IEP opened at $8.22 on Monday. The firm has a 50 day moving average price of $8.42 and a 200 day moving average price of $8.60. The company has a market cap of $4.71 billion, a PE ratio of -6.68 and a beta of 0.79. Icahn Enterprises L.P. has a 1 year low of $7.27 and a 1 year high of $15.65. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.40.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its earnings results on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.44). The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.39 billion. Icahn Enterprises had a negative return on equity of 15.65% and a negative net margin of 6.78%. Sell-side analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Monday, August 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 24.3%. The ex-dividend date of this dividend was Monday, August 18th. Icahn Enterprises's dividend payout ratio is -162.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IEP shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Icahn Enterprises in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Icahn Enterprises from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Zacks Research upgraded shares of Icahn Enterprises from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

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.

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