MYDA Advisors LLC purchased a new stake in Intrepid Potash, Inc. (NYSE:IPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,000 shares of the basic materials company’s stock, valued at approximately $219,000.
Several other hedge funds have also recently made changes to their positions in the company. Creative Planning bought a new stake in Intrepid Potash during the 4th quarter worth about $101,000. LMR Partners LLP bought a new stake in shares of Intrepid Potash in the 3rd quarter valued at about $155,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Intrepid Potash by 226.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 42,683 shares of the basic materials company’s stock valued at $186,000 after purchasing an additional 29,610 shares during the period. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intrepid Potash in the 4th quarter valued at about $205,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Intrepid Potash by 12.3% in the 2nd quarter. Wells Fargo & Company MN now owns 57,809 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 6,336 shares during the period. 46.88% of the stock is owned by institutional investors.
A number of research analysts recently commented on IPI shares. Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Cowen restated a “sell” rating and set a $3.50 target price on shares of Intrepid Potash in a research report on Friday, December 1st. Stephens initiated coverage on shares of Intrepid Potash in a research report on Monday, December 4th. They set an “equal weight” rating and a $4.00 target price on the stock. Finally, ValuEngine lowered shares of Intrepid Potash from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company. Intrepid Potash has an average rating of “Hold” and an average target price of $3.60.
In related news, insider Robert P. Jornayvaz III acquired 10,000 shares of the stock in a transaction on Tuesday, December 19th. The shares were acquired at an average price of $3.85 per share, with a total value of $38,500.00. Following the completion of the transaction, the insider now owns 1,206,650 shares in the company, valued at approximately $4,645,602.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Jornayvaz III purchased 15,900 shares of the stock in a transaction dated Thursday, March 1st. The stock was acquired at an average cost of $3.30 per share, for a total transaction of $52,470.00. Following the transaction, the chief executive officer now owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The disclosure for this purchase can be found here. Insiders have bought 342,244 shares of company stock valued at $1,155,155 over the last quarter. Corporate insiders own 27.30% of the company’s stock.
Intrepid Potash, Inc. (NYSE:IPI) traded up $0.02 during mid-day trading on Wednesday, hitting $3.83. 436,147 shares of the stock traded hands, compared to its average volume of 1,111,977. Intrepid Potash, Inc. has a 12-month low of $1.24 and a 12-month high of $5.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 0.77. The company has a market capitalization of $509.00, a P/E ratio of -15.32 and a beta of 0.95.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). The firm had revenue of $33.30 million for the quarter, compared to analyst estimates of $30.68 million. Intrepid Potash had a negative return on equity of 5.31% and a negative net margin of 14.54%. The company’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) earnings per share. sell-side analysts expect that Intrepid Potash, Inc. will post 0.12 earnings per share for the current year.
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Intrepid Potash Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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