Rhumbline Advisers Sells 700 Shares of Intrepid Potash, Inc $IPI

Rhumbline Advisers reduced its stake in shares of Intrepid Potash, Inc (NYSE:IPI) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,743 shares of the basic materials company’s stock after selling 700 shares during the quarter. Rhumbline Advisers owned about 0.13% of Intrepid Potash worth $492,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in Intrepid Potash by 7.3% during the first quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock worth $1,782,000 after acquiring an additional 4,137 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Intrepid Potash by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after buying an additional 312 shares during the period. Invenomic Capital Management LP purchased a new position in shares of Intrepid Potash during the first quarter valued at approximately $10,210,000. Bridgeway Capital Management LLC boosted its position in shares of Intrepid Potash by 4.0% during the first quarter. Bridgeway Capital Management LLC now owns 107,479 shares of the basic materials company’s stock valued at $3,159,000 after buying an additional 4,137 shares during the period. Finally, PDT Partners LLC purchased a new position in shares of Intrepid Potash during the first quarter valued at approximately $223,000. 56.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IPI. Zacks Research upgraded Intrepid Potash from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Wall Street Zen upgraded Intrepid Potash from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, UBS Group dropped their target price on Intrepid Potash from $24.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Intrepid Potash Stock Up 0.2%

Shares of NYSE:IPI opened at $28.68 on Wednesday. The company has a market capitalization of $382.02 million, a price-to-earnings ratio of -1.84 and a beta of 1.83. Intrepid Potash, Inc has a 52 week low of $20.86 and a 52 week high of $39.01. The firm has a 50 day moving average of $30.65 and a 200 day moving average of $32.29.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.28. The company had revenue of $71.47 million during the quarter, compared to the consensus estimate of $56.14 million. Intrepid Potash had a negative net margin of 71.13% and a positive return on equity of 1.48%. On average, sell-side analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 53,035 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $34.30, for a total value of $1,819,100.50. Following the completion of the transaction, the insider owned 3,950 shares of the company’s stock, valued at $135,485. The trade was a 93.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Intrepid Potash Company Profile

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.