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

Icahn Enterprises L.P. (NASDAQ:IEP) gapped down prior to trading on Monday . The stock had previously closed at $12.48, but opened at $11.81. Icahn Enterprises shares last traded at $11.80, with a volume of 225,000 shares changing hands.

Icahn Enterprises Trading Down 7.4 %

The company has a current ratio of 4.61, a quick ratio of 4.85 and a debt-to-equity ratio of 1.34. The stock has a market cap of $5.83 billion, a PE ratio of -10.58 and a beta of 0.78. The business has a 50 day moving average of $13.25 and a 200-day moving average of $15.27.

Icahn Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Monday, November 18th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 17.30%. Icahn Enterprises’s dividend payout ratio (DPR) is currently -366.97%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IEP. Geode Capital Management LLC grew its position in shares of Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock valued at $5,518,000 after purchasing an additional 12,421 shares during the period. Barclays PLC lifted its holdings in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after acquiring an additional 1,427 shares during the period. MML Investors Services LLC acquired a new stake in shares of Icahn Enterprises in the third quarter worth approximately $171,000. National Bank of Canada FI grew its holdings in Icahn Enterprises by 12.5% in the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate’s stock valued at $304,000 after purchasing an additional 2,500 shares during the period. Finally, Insigneo Advisory Services LLC increased its position in Icahn Enterprises by 42.3% during the third quarter. Insigneo Advisory Services LLC now owns 17,501 shares of the conglomerate’s stock worth $237,000 after purchasing an additional 5,199 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.