Assenagon Asset Management S.A. Takes Position in Intrepid Potash, Inc (NYSE:IPI)

Assenagon Asset Management S.A. bought a new position in shares of Intrepid Potash, Inc (NYSE:IPI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,183 shares of the basic materials company's stock, valued at approximately $211,000. Assenagon Asset Management S.A. owned 0.05% of Intrepid Potash at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPI. JPMorgan Chase & Co. increased its holdings in Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock worth $3,336,000 after acquiring an additional 129,722 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Intrepid Potash by 110.1% in the 4th 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 last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Intrepid Potash by 191.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company's stock worth $1,604,000 after buying an additional 48,068 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Intrepid Potash in the 4th quarter worth $1,028,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Intrepid Potash in the 4th quarter worth $1,007,000. Institutional investors own 56.13% of the company's stock.

Intrepid Potash Stock Performance

Shares of Intrepid Potash stock opened at $37.71 on Friday. Intrepid Potash, Inc has a 52-week low of $20.75 and a 52-week high of $39.01. The stock has a market capitalization of $502.28 million, a price-to-earnings ratio of -2.37 and a beta of 1.76. The company has a fifty day moving average of $35.00 and a 200-day moving average of $28.98.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.51. Intrepid Potash had a negative net margin of 75.09% and a positive return on equity of 0.31%. The company had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. On average, equities research analysts forecast that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total transaction of $274,551.04. Following the completion of the sale, the insider now owns 1,105,545 shares of the company's stock, valued at $33,785,455.20. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 107,248 shares of company stock valued at $3,851,630. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

IPI has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. UBS Group decreased their price target on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a report on Wednesday, April 16th.

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.

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