Bridgeway Capital Management LLC Reduces Position in Intrepid Potash, Inc. (NYSE:IPI)

Bridgeway Capital Management LLC trimmed its holdings in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 103,342 shares of the basic materials company's stock after selling 7,287 shares during the period. Bridgeway Capital Management LLC owned approximately 0.78% of Intrepid Potash worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after purchasing an additional 129,722 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Intrepid Potash by 110.1% during the fourth quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock worth $2,452,000 after buying an additional 58,630 shares during the period. Peapod Lane Capital LLC purchased a new position in shares of Intrepid Potash during the fourth quarter worth $1,269,000. The Manufacturers Life Insurance Company grew its stake in shares of Intrepid Potash by 191.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company's stock valued at $1,604,000 after buying an additional 48,068 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Intrepid Potash in the 4th quarter valued at $1,028,000. Institutional investors and hedge funds own 56.13% of the company's stock.

Intrepid Potash Stock Performance

Shares of NYSE:IPI traded up $0.96 on Thursday, hitting $37.75. 212,868 shares of the company's stock were exchanged, compared to its average volume of 118,635. The firm's 50-day moving average is $30.22 and its 200 day moving average is $27.19. The company has a market capitalization of $502.72 million, a PE ratio of -11.26 and a beta of 1.80. Intrepid Potash, Inc. has a 1-year low of $20.75 and a 1-year high of $38.87.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.51. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. On average, analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $37.66, for a total value of $2,248,339.66. Following the sale, the insider now directly owns 1,044,162 shares in the company, valued at $39,323,140.92. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 229,872 shares of company stock valued at $6,866,175. Company insiders own 18.00% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on IPI. UBS Group decreased their target price on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research note on Wednesday, April 16th. StockNews.com raised shares of Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th.

Intrepid Potash 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.