Icahn Associates Holding LLC recently announced the acquisition of new stake in Icahn Enterprises L.P. (NASDAQ:IEP). The institutional investor has increased its shareholding in the Energy company by 3.83% to 311.48 million shares with purchase of 11.48 million shares. This fresh investment now brings its stake to 88.10% valued currently at $15.82 billion. In addition, Susquehanna Financial Group LLLP raised its holdings by 0.15 million to 0.29 million shares. And Geode Capital Management LLC has lifted its position by 6.36% or 15649.0 shares – to 0.26 million shares.
With over 3.75 million Icahn Enterprises L.P. (IEP) shares trading Tuesday and a closing price of $27.64 on the day, the dollar volume was approximately $103.76 million. The shares have shown a negative half year performance of -46.69% and its price on 05/23/23 lost nearly -3.73%. Currently, there are 354.00M common shares owned by the public and among those 336.90M shares have been available to trade.
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Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 33,364,849 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 17,920 shares.
The top 3 mutual fund holders in Icahn Enterprises L.P. are Global X SuperDividend US ETF, Kinetics Paradigm Portfolio, and Fidelity Nasdaq Composite Index F. Global X SuperDividend US ETF owns 0.25 million shares of the company’s stock, all valued at over $12.73 million. The company bought an additional 138.0 shares recently to bring their total holdings to about 0.07% of the shares outstanding. Kinetics Paradigm Portfolio sold 500.0 shares to see its total holdings shrink to 0.23 million shares valued at over $11.71 million and representing 0.07% of the shares outstanding. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.05% of the shares outstanding.
Shares of Icahn Enterprises L.P. (NASDAQ: IEP) opened at $28.38, down -$0.33 from a prior closing price of $28.71. However, the script later moved the day high at 28.70, down -3.73%. The company’s stock has a 5-day price change of -19.20% and -48.71% over the past three months. IEP shares are trading -45.43% year to date (YTD), with the 12-month market performance down to -45.33% lower. It has a 12-month low price of $27.56 and touched a high of $55.16 over the same period. IEP has an average intraday trading volume of 1.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -28.03%, -40.30%, and -45.73% respectively.
Institutional ownership of Icahn Enterprises L.P. (NASDAQ: IEP) shares accounts for 86.90% of the company’s 354.00M shares outstanding. Mutual fund holders own 78.25%, while other institutional holders and individual stakeholders account for 89.05% and 0.32% respectively.
It has a market capitalization of $10.99B and a beta (3y monthly) value of 0.76. The earnings-per-share (ttm) stands at -$2.27. The company has a debt-to-equity ratio at 1.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.85% over the week and 9.56% over the month.
Analysts forecast that Icahn Enterprises L.P. (IEP) will achieve an EPS of $0.25 for the current quarter, $0.28 for the next quarter and $1.14 for 2024. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.25. Comparatively, EPS for the current quarter was -$0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 75.60%, and 1040.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Icahn Enterprises L.P. (IEP) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
