Golden State Wealth Management LLC Invests $161,000 in Icahn Enterprises LP (NASDAQ:IEP)

Golden State Wealth Management LLC acquired a new stake in shares of Icahn Enterprises LP (NASDAQ:IEP) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,500 shares of the conglomerate’s stock, valued at approximately $161,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Icahn Enterprises by 66.9% in the second quarter. Morgan Stanley now owns 275,292 shares of the conglomerate’s stock valued at $19,934,000 after acquiring an additional 110,365 shares during the period. Strategic Wealth Management Inc. lifted its holdings in Icahn Enterprises by 11.8% in the third quarter. Strategic Wealth Management Inc. now owns 44,442 shares of the conglomerate’s stock valued at $2,853,000 after acquiring an additional 4,687 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Icahn Enterprises by 18.6% in the second quarter. Commonwealth Equity Services LLC now owns 28,599 shares of the conglomerate’s stock valued at $2,070,000 after acquiring an additional 4,493 shares during the period. Renaissance Technologies LLC lifted its holdings in Icahn Enterprises by 456.1% in the second quarter. Renaissance Technologies LLC now owns 22,800 shares of the conglomerate’s stock valued at $1,651,000 after acquiring an additional 18,700 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in Icahn Enterprises by 6.7% in the second quarter. Cetera Advisors LLC now owns 19,100 shares of the conglomerate’s stock valued at $1,384,000 after acquiring an additional 1,197 shares during the period. 96.84% of the stock is currently owned by institutional investors.

NASDAQ IEP opened at $69.13 on Friday. The stock’s 50-day moving average price is $66.66 and its 200-day moving average price is $71.05. The company has a quick ratio of 6.54, a current ratio of 6.54 and a debt-to-equity ratio of 0.76. Icahn Enterprises LP has a 52 week low of $50.33 and a 52 week high of $79.37.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Tuesday, August 6th. The conglomerate reported ($2.37) EPS for the quarter, missing the consensus estimate of $0.32 by ($2.69). Icahn Enterprises had a negative return on equity of 10.95% and a net margin of 1.86%. The company had revenue of $2.20 billion during the quarter.

A number of research firms have weighed in on IEP. UBS Group lowered their target price on Icahn Enterprises from $56.00 to $55.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. BidaskClub downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Finally, ValuEngine raised Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Monday.

Icahn Enterprises Profile

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

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