Icahn Associates Holding LLC has recently announced that it has increased stake in Icahn Enterprises L.P. (NASDAQ:IEP) by 3.93%. After grabbing 288.56 million shares, the institutional investor is now in possession of 10.9 million shares of the Industrials Company. The new investment brought the stake of investor firm to 89.40% having worth around $15.74 billion. Moreover, Morgan Stanley Smith Barney LLC increased its share by 7211.0 to have a control over 0.25 million shares. And Geode Capital Management LLC raised its holdings to 12102.0 shares by acquiring 0.25 million shares or 0.08% of the stake.
Icahn Enterprises L.P. (IEP) concluded trading on 11/23/22 at a closing price of $51.43, with 0.46 million shares of worth about $23.67 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.14% during that period and on Wednesday the price saw a gain of about 0.90%. Currently the company’s common shares owned by public are about 337.47M shares, out of which, 336.90M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 5 times over the past 12 months. They bought 41,434,120 shares in 4 of the transactions. In 1 selling transactions, insiders dumped 17,920 shares.
Global X SuperDividend US ETF, Kinetics Paradigm Portfolio, and Fidelity Nasdaq Composite Index F are the top 3 mutual funds which are holding stakes in Icahn Enterprises L.P. Global X SuperDividend US ETF is currently holding 0.27 million shares of worth totaling $14.62 million. The company recently came buying 0.0 shares which brought its stake up to 0.08% of the company’s outstanding shares. Kinetics Paradigm Portfolio sold 3800.0 shares, after which its hold over company’s outstanding shares shrunk to 0.07%, leaving 0.23 million shares with the mutual fund that have a worth of about $12.67 million. Fidelity Nasdaq Composite Index F, after buying 0.18 million shares, have now control over 0.06% of the stake in the company. It holds 0.0 shares of worth $9.71 million.
Icahn Enterprises L.P. (NASDAQ: IEP) started trading at $51.00, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 51.43, or with a gain of 0.90%. Stock saw a price change of -4.60% in past 5 days and over the past one month there was a price change of -5.25%. Year-to-date (YTD), IEP shares are showing a performance of 3.71% which increased to 0.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $47.17 but also hit the highest price of $55.73 during that period. The average intraday trading volume for Icahn Enterprises L.P. shares is 461.42K. The stock is currently trading -4.25% below its 20-day simple moving average (SMA20), while that difference is down -2.22% for SMA50 and it goes to -1.83% lower than SMA200.
Icahn Associates Holding LLC acquired 288.56 million shares of Icahn Enterprises L.P. having value of about $15.74 billion. Data submitted at the U.S SEC by Icahn Associates Holding LLC revealed that the firm now holds 10.9 million shares in the company valued at close to $560719072.24, or have control over 3.93% stake in the company. Icahn Enterprises L.P. (NASDAQ: IEP) currently have 337.47M outstanding shares and institutions hold larger chunk of about 86.90% of that. Holding of mutual funds in the company is about 85.72% while other institutional holders and individual stake holders have control over 90.31% and 0.43% of the stake respectively.
The stock has a current market capitalization of $17.49B and its 3Y-monthly beta is at 0.78. It has posted earnings per share of -$1.46 in the same period. It has a debt-to-equity ratio of 1.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IEP, volatility over the week remained 1.52% while standing at 1.37% over the month.
Analysts are in expectations that Icahn Enterprises L.P. (IEP) stock would likely to be making an EPS of $0.22 in the current quarter, while forecast for next quarter EPS is $0.18 and it is $0.87 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.22 which is $0.22 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.55 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 68.30% while it is estimated to increase by 91.93% in next year.
Analysts at 1 brokerage firms have issued recommendations for the Icahn Enterprises L.P. (IEP)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on March 03, 2017 offering a Sell rating for the stock and assigned a target price range of between $30 and $40 to it. Coverage by UBS stated Icahn Enterprises L.P. (IEP) stock as a Sell in their note to investors on August 18, 2016, suggesting a price target of $30 for the stock. On March 02, 2015, UBS Reiterated their recommendations, while on January 20, 2015, UBS Initiated their ratings for the stock with a price target of $88.