Laurion Capital Management LP lowered its stake in Intrepid Potash, Inc. (NYSE:IPI) by 49.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,132,640 shares of the basic materials company’s stock after selling 1,102,419 shares during the quarter. Laurion Capital Management LP owned about 0.86% of Intrepid Potash worth $4,067,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Intrepid Potash in the 2nd quarter worth about $6,819,000. Renaissance Technologies LLC bought a new stake in shares of Intrepid Potash in the 2nd quarter worth about $4,298,000. Dimensional Fund Advisors LP increased its holdings in shares of Intrepid Potash by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,977,548 shares of the basic materials company’s stock worth $24,508,000 after buying an additional 997,116 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Intrepid Potash in the 3rd quarter worth about $2,331,000. Finally, Royce & Associates LP increased its holdings in shares of Intrepid Potash by 57.8% in the 2nd quarter. Royce & Associates LP now owns 1,587,455 shares of the basic materials company’s stock worth $6,509,000 after buying an additional 581,500 shares during the last quarter. Institutional investors and hedge funds own 43.73% of the company’s stock.
A number of analysts have recently weighed in on IPI shares. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine downgraded shares of Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Stephens set a $7.00 target price on shares of Intrepid Potash and gave the stock a “buy” rating in a report on Tuesday, October 30th. TheStreet upgraded shares of Intrepid Potash from a “d+” rating to a “c-” rating in a report on Monday, November 12th. Finally, BMO Capital Markets boosted their target price on shares of Intrepid Potash from $3.25 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.81.
In other news, major shareholder Clearway Capital Management Lt purchased 306,467 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were bought at an average cost of $3.55 per share, for a total transaction of $1,087,957.85. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James N. Whyte sold 88,088 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $4.27, for a total transaction of $376,135.76. Following the transaction, the executive vice president now owns 298,838 shares in the company, valued at $1,276,038.26. The disclosure for this sale can be found here. Corporate insiders own 27.30% of the company’s stock.
Intrepid Potash stock opened at $3.07 on Friday. Intrepid Potash, Inc. has a twelve month low of $3.04 and a twelve month high of $5.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.47 and a current ratio of 3.23. The stock has a market capitalization of $422.16 million, a PE ratio of -17.06 and a beta of 0.69.
Intrepid Potash (NYSE:IPI) last posted its earnings results on Tuesday, October 30th. The basic materials company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $36.53 million for the quarter, compared to the consensus estimate of $35.85 million. Intrepid Potash had a net margin of 1.59% and a return on equity of 0.03%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. On average, equities analysts forecast that Intrepid Potash, Inc. will post 0.06 earnings per share for the current fiscal year.
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Intrepid Potash Company Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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