Janney Montgomery Scott LLC Purchases 8,496 Shares of Icahn Enterprises LP (NASDAQ:IEP)

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Janney Montgomery Scott LLC increased its stake in Icahn Enterprises LP (NASDAQ:IEP) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,222 shares of the conglomerate’s stock after purchasing an additional 8,496 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Icahn Enterprises were worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IEP. Advisor Group Holdings Inc. bought a new position in Icahn Enterprises in the 1st quarter worth $1,255,000. Geode Capital Management LLC raised its holdings in Icahn Enterprises by 9.2% in the 1st quarter. Geode Capital Management LLC now owns 151,300 shares of the conglomerate’s stock worth $7,325,000 after purchasing an additional 12,684 shares during the period. Royal Bank of Canada raised its holdings in Icahn Enterprises by 38.9% in the 1st quarter. Royal Bank of Canada now owns 40,485 shares of the conglomerate’s stock worth $1,960,000 after purchasing an additional 11,342 shares during the period. Wells Fargo & Company MN raised its holdings in Icahn Enterprises by 12.6% in the 1st quarter. Wells Fargo & Company MN now owns 98,694 shares of the conglomerate’s stock worth $4,779,000 after purchasing an additional 11,023 shares during the period. Finally, Fishman Jay A Ltd. MI raised its holdings in Icahn Enterprises by 13.7% in the 1st quarter. Fishman Jay A Ltd. MI now owns 83,572 shares of the conglomerate’s stock worth $6,059,000 after purchasing an additional 10,043 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Shares of IEP stock opened at $49.81 on Friday. Icahn Enterprises LP has a 52-week low of $34.00 and a 52-week high of $79.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 5.04 and a current ratio of 5.04. The firm has a market capitalization of $10.67 billion, a PE ratio of -5.08 and a beta of 1.24. The stock has a fifty day simple moving average of $48.88 and a two-hundred day simple moving average of $53.65.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Friday, May 8th. The conglomerate reported ($6.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($5.55). Icahn Enterprises had a negative return on equity of 18.89% and a negative net margin of 22.90%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, sell-side analysts forecast that Icahn Enterprises LP will post -7.65 EPS for the current fiscal year.

A number of brokerages recently commented on IEP. Zacks Investment Research cut Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub raised Icahn Enterprises from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet lowered Icahn Enterprises from a “c-” rating to a “d” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.00.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.

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Want to see what other hedge funds are holding IEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Icahn Enterprises LP (NASDAQ:IEP).

Institutional Ownership by Quarter for Icahn Enterprises (NASDAQ:IEP)

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