Two Sigma Investments LP Increases Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Two Sigma Investments LP raised its position in Intrepid Potash, Inc. (NYSE:IPI) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,974 shares of the basic materials company’s stock after acquiring an additional 10,894 shares during the quarter. Two Sigma Investments LP owned approximately 0.57% of Intrepid Potash worth $1,665,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Intrepid Potash in the fourth quarter worth about $46,000. Lazard Asset Management LLC purchased a new stake in Intrepid Potash in the 4th quarter worth approximately $153,000. Glenorchy Capital Ltd lifted its holdings in Intrepid Potash by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after buying an additional 714 shares during the period. Deutsche Bank AG grew its position in shares of Intrepid Potash by 25.5% in the 4th quarter. Deutsche Bank AG now owns 24,964 shares of the basic materials company’s stock worth $547,000 after buying an additional 5,077 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Intrepid Potash by 25.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 79,162 shares of the basic materials company’s stock valued at $1,735,000 after buying an additional 16,018 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

IPI has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Intrepid Potash from $20.00 to $19.00 and set a “sell” rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th.

Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 47,429 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $26.54, for a total value of $1,258,765.66. Following the sale, the insider now owns 1,164,794 shares in the company, valued at $30,913,632.76. This represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 180,765 shares of company stock worth $5,858,599 in the last three months. 2.40% of the stock is owned by corporate insiders.

Intrepid Potash Price Performance

Shares of IPI opened at $37.41 on Tuesday. Intrepid Potash, Inc. has a one year low of $20.75 and a one year high of $39.01. The firm has a market capitalization of $498.19 million, a PE ratio of -11.17 and a beta of 1.80. The company has a 50-day simple moving average of $32.54 and a two-hundred day simple moving average of $28.12.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.51. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $97.76 million during the quarter, compared to the consensus estimate of $72.34 million. Analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

About Intrepid Potash

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.