Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP) gapped down prior to trading on Thursday . The stock had previously closed at $11.04, but opened at $10.80. Icahn Enterprises shares last traded at $10.82, with a volume of 169,583 shares changing hands.

Icahn Enterprises Stock Performance

The business has a fifty day moving average of $13.01 and a 200 day moving average of $14.68. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 18.17%. Icahn Enterprises’s dividend payout ratio (DPR) is -183.48%.

Hedge Funds Weigh In On Icahn Enterprises

Several institutional investors have recently bought and sold shares of IEP. Geode Capital Management LLC boosted its holdings in shares of Icahn Enterprises by 3.1% during 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 period. Commonwealth Equity Services LLC boosted its holdings in Icahn Enterprises by 6.1% during the second quarter. Commonwealth Equity Services LLC now owns 109,724 shares of the conglomerate’s stock valued at $1,808,000 after acquiring an additional 6,276 shares during the period. Creative Planning grew its position in shares of Icahn Enterprises by 15.8% in the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after purchasing an additional 14,805 shares during the last quarter. Griffin Asset Management Inc. increased its stake in shares of Icahn Enterprises by 7.8% in the third quarter. Griffin Asset Management Inc. now owns 39,970 shares of the conglomerate’s stock worth $540,000 after purchasing an additional 2,887 shares during the period. Finally, Western Wealth Management LLC boosted its stake in Icahn Enterprises by 10.5% during the 2nd quarter. Western Wealth Management LLC now owns 38,514 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 3,650 shares during the period. 87.09% of the stock is currently owned by 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.