Stock Traders Purchase High Volume of Put Options on Icahn Enterprises (NASDAQ:IEP)

Icahn Enterprises L.P. (NASDAQ:IEP) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 3,625 put options on the stock. This is an increase of approximately 52% compared to the average volume of 2,387 put options.

Icahn Enterprises Trading Up 0.1%

NASDAQ:IEP traded up $0.01 during trading hours on Tuesday, hitting $7.31. The company had a trading volume of 1,469,228 shares, compared to its average volume of 825,294. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average of $8.02 and a 200 day moving average of $8.40. Icahn Enterprises has a 1 year low of $7.08 and a 1 year high of $10.74. The company has a market cap of $4.38 billion, a P/E ratio of -9.25 and a beta of 0.81.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Wednesday, November 5th. The conglomerate reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.35. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Icahn Enterprises had a negative return on equity of 10.13% and a negative net margin of 4.04%. Sell-side analysts expect that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Monday, November 17th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.00 annualized dividend and a yield of 27.4%. Icahn Enterprises’s dividend payout ratio (DPR) is -253.16%.

Hedge Funds Weigh In On Icahn Enterprises

Institutional investors have recently modified their holdings of the business. Caz Investments LP increased its stake in shares of Icahn Enterprises by 12.5% during the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock worth $91,000 after acquiring an additional 1,254 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Icahn Enterprises by 6.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 25,342 shares of the conglomerate’s stock worth $213,000 after buying an additional 1,454 shares in the last quarter. United Advisor Group LLC grew its stake in Icahn Enterprises by 5.2% in the 2nd quarter. United Advisor Group LLC now owns 29,849 shares of the conglomerate’s stock valued at $240,000 after acquiring an additional 1,483 shares during the last quarter. Stablepoint Partners LLC raised its position in Icahn Enterprises by 6.3% during the second quarter. Stablepoint Partners LLC now owns 27,360 shares of the conglomerate’s stock worth $220,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC grew its position in shares of Icahn Enterprises by 6.1% in the second quarter. Key Client Fiduciary Advisors LLC now owns 34,333 shares of the conglomerate’s stock valued at $276,000 after purchasing an additional 1,961 shares during the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Icahn Enterprises in a research note on Monday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Icahn Enterprises presently has a consensus rating of “Reduce”.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.