Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price 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 traded.

Icahn Enterprises Stock Performance

The firm has a 50 day simple moving average of $12.91 and a 200-day simple moving average of $14.61. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -9.69 and a beta of 0.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 18.94%. Icahn Enterprises’s dividend payout ratio (DPR) is currently -183.48%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC lifted its holdings in shares of Icahn Enterprises by 6.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after acquiring an additional 855 shares during the last quarter. PSI Advisors LLC raised its position in Icahn Enterprises by 3.4% in the second quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock valued at $495,000 after purchasing an additional 990 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 1,083 shares in the last quarter. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,427 shares during the period. Finally, United Advisor Group LLC grew its stake in shares of Icahn Enterprises by 7.7% in the third quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock valued at $391,000 after buying an additional 2,079 shares in the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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.