Icahn Enterprises L.P. (NASDAQ:IEP – Get Free Report) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,320,000 shares, a decline of 5.4% from the December 31st total of 3,510,000 shares. Based on an average daily volume of 837,800 shares, the short-interest ratio is currently 4.0 days.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of Icahn Enterprises in a research report on Thursday, October 5th. They issued a “hold” rating on the stock.
Icahn Enterprises Price Performance
Icahn Enterprises (NASDAQ:IEP – Get Free Report) last released its quarterly earnings data on Friday, November 3rd. The conglomerate reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.35). The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Icahn Enterprises had a negative return on equity of 10.04% and a negative net margin of 7.02%. As a group, equities analysts predict that Icahn Enterprises will post -1.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Icahn Carl C grew its stake in Icahn Enterprises by 11.5% during the 2nd quarter. Icahn Carl C now owns 334,494,577 shares of the conglomerate’s stock worth $9,710,378,000 after buying an additional 34,496,953 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Icahn Enterprises by 4,112.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 334,579 shares of the conglomerate’s stock worth $17,375,000 after buying an additional 326,637 shares during the last quarter. International Assets Investment Management LLC grew its stake in Icahn Enterprises by 1,623.0% during the 4th quarter. International Assets Investment Management LLC now owns 334,483 shares of the conglomerate’s stock worth $5,750,000 after buying an additional 315,070 shares during the last quarter. Morgan Stanley grew its stake in Icahn Enterprises by 53.0% during the 4th quarter. Morgan Stanley now owns 837,448 shares of the conglomerate’s stock worth $42,417,000 after buying an additional 290,199 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in Icahn Enterprises during the 2nd quarter worth about $4,367,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
About Icahn Enterprises
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company's Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.
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