Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) shares gapped down prior to trading on Friday . The stock had previously closed at $12.89, but opened at $11.46. Icahn Enterprises shares last traded at $11.90, with a volume of 774,426 shares changing hands.

Icahn Enterprises Stock Down 7.4 %

The firm has a 50 day moving average price of $13.22 and a 200-day moving average price of $15.49. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 1.23. The firm has a market cap of $5.67 billion, a PE ratio of -10.38 and a beta of 0.78.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.91). The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. During the same quarter in the previous year, the business posted ($0.72) EPS. Research analysts forecast that Icahn Enterprises L.P. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the business. KPP Advisory Services LLC increased its position in Icahn Enterprises by 40.2% during the third quarter. KPP Advisory Services LLC now owns 15,918 shares of the conglomerate’s stock worth $215,000 after buying an additional 4,563 shares during the period. Planning Capital Management Corp acquired a new position in Icahn Enterprises during the third quarter worth approximately $34,000. Prime Capital Investment Advisors LLC increased its position in Icahn Enterprises by 6.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after buying an additional 855 shares during the period. United Advisor Group LLC increased its position in Icahn Enterprises by 7.7% during the third quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock worth $391,000 after buying an additional 2,079 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Icahn Enterprises during the third quarter worth approximately $164,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

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.