Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Icahn Enterprises experienced unusually high trading volume, with nearly 1.4 million shares traded—39% above its average—while the stock was recently trading around $5.05.
• Analyst sentiment remains negative: Weiss Ratings downgraded the company to “sell (e+),” and MarketBeat reports an average rating of “Sell.” The company also posted a quarterly EPS loss of $0.52, missing estimates by $0.63.
• Despite some institutional investors increasing their holdings, Icahn Enterprises has significant financial concerns, including negative net margin and return on equity, a debt-to-equity ratio of 2.98, and shares trading below their 50-day and 200-day moving averages.

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) shares saw unusually-high trading volume on Tuesday. 1,391,997 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 999,774 shares. The stock last traded at $5.0450 and had previously closed at $5.16.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Icahn Enterprises from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 16th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Icahn Enterprises has an average rating of "Sell".

Icahn Enterprises Trading Up 1.8%

The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -7.14 and a beta of 0.75. The business's 50 day moving average price is $6.58 and its two-hundred day moving average price is $7.40.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.63). The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.04 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Institutional Trading of Icahn Enterprises

A number of institutional investors have recently bought and sold shares of IEP. Bank of America Corp DE grew its position in shares of Icahn Enterprises by 301.4% during the 1st quarter. Bank of America Corp DE now owns 108,724 shares of the conglomerate's stock worth $821,000 after buying an additional 81,637 shares during the period. Next Level Private LLC purchased a new stake in shares of Icahn Enterprises during the 2nd quarter valued at approximately $289,000. First Trust Advisors LP grew its position in shares of Icahn Enterprises by 2.7% in the first quarter. First Trust Advisors LP now owns 804,009 shares of the conglomerate's stock valued at $6,070,000 after purchasing an additional 21,373 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Icahn Enterprises by 88.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 43,513 shares of the conglomerate's stock valued at $294,000 after buying an additional 20,395 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of Icahn Enterprises by 20.9% during the third quarter. MGO One Seven LLC now owns 110,019 shares of the conglomerate's stock valued at $743,000 after buying an additional 18,995 shares during the period. Institutional investors own 87.09% of the company's stock.

About Icahn Enterprises

Icahn Enterprises L.P. NASDAQ: IEP is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.

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