R Squared Ltd Invests $38,000 in Intrepid Potash, Inc. (NYSE:IPI)

R Squared Ltd bought a new position in shares of Intrepid Potash, Inc. (NYSE:IPIFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,730 shares of the basic materials company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IPI. Pinnacle Associates Ltd. bought a new stake in shares of Intrepid Potash during the third quarter worth about $3,100,000. Glenorchy Capital Ltd increased its position in shares of Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after acquiring an additional 30,425 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Intrepid Potash during the third quarter worth about $602,000. Squarepoint Ops LLC bought a new stake in Intrepid Potash in the 2nd quarter worth about $303,000. Finally, Barclays PLC grew its position in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 10,599 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IPI has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

View Our Latest Analysis on IPI

Insider Transactions at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 159,513 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total value of $4,006,966.56. Following the completion of the transaction, the insider now directly owns 1,285,000 shares of the company’s stock, valued at approximately $32,279,200. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 458,748 shares of company stock worth $11,740,406 in the last quarter. Insiders own 18.00% of the company’s stock.

Intrepid Potash Stock Down 3.0 %

Shares of IPI stock opened at $26.30 on Monday. The company has a 50 day moving average of $25.01 and a 200-day moving average of $24.69. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The firm has a market cap of $346.11 million, a P/E ratio of -7.85 and a beta of 2.23.

Intrepid Potash (NYSE:IPIGet Free Report) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. During the same quarter in the previous year, the business earned ($0.53) EPS. As a group, equities analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Intrepid Potash Profile

(Free Report)

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.

See Also

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Institutional Ownership by Quarter for Intrepid Potash (NYSE:IPI)

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