Icahn Enterprises L.P. $IEP Shares Sold by Virtu Financial LLC

Key Points

• Virtu Financial LLC reduced its stake in Icahn Enterprises L.P. by 45.1%, leaving them with holdings valued at $491,000 after selling 44,506 shares in the first quarter.
• Major hedge funds, like Icahn Carl C and First Trust Advisors LP, have also adjusted their positions, with Icahn Carl C increasing its stake by 4.1% and First Trust Advisors LP by 26.2% during the fourth quarter.
• Icahn Enterprises reported a net loss of $0.30 per share for the last quarter, falling short of analysts’ expectations, and announced a quarterly dividend of $0.50, reflecting a high dividend yield of 21.5% despite a payout ratio of -162.60%.

Virtu Financial LLC lowered its position in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 45.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,176 shares of the conglomerate's stock after selling 44,506 shares during the period. Virtu Financial LLC's holdings in Icahn Enterprises were worth $491,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IEP. National Bank of Canada FI increased its stake in shares of Icahn Enterprises by 20.0% during the first quarter. National Bank of Canada FI now owns 30,000 shares of the conglomerate's stock worth $272,000 after purchasing an additional 5,000 shares in the last quarter. WMG Financial Advisors LLC acquired a new position in shares of Icahn Enterprises during the first quarter valued at approximately $95,000. M&T Bank Corp purchased a new position in shares of Icahn Enterprises in the first quarter valued at approximately $161,000. Spire Wealth Management lifted its position in shares of Icahn Enterprises by 57.1% in the first quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock valued at $50,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Icahn Enterprises by 17.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,107 shares of the conglomerate's stock worth $309,000 after acquiring an additional 5,177 shares during the last quarter. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Price Performance

Shares of NASDAQ IEP traded down $0.77 during mid-day trading on Monday, reaching $8.64. The company's stock had a trading volume of 1,493,624 shares, compared to its average volume of 764,224. The stock has a 50-day moving average of $8.86 and a two-hundred day moving average of $9.03. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.40. The stock has a market capitalization of $4.95 billion, a P/E ratio of -7.02 and a beta of 0.78. Icahn Enterprises L.P. has a 1-year low of $7.27 and a 1-year high of $16.40.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly 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). Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.39 billion. On average, equities research analysts anticipate that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Monday, August 18th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 23.2%. Icahn Enterprises's dividend payout ratio (DPR) is currently -162.60%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Icahn Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday.

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.