Assenagon Asset Management S.A. Invests $211,000 in Intrepid Potash, Inc (NYSE:IPI)

Assenagon Asset Management S.A. bought a new position in Intrepid Potash, Inc (NYSE:IPI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,183 shares of the basic materials company's stock, valued at approximately $211,000. Assenagon Asset Management S.A. owned approximately 0.05% of Intrepid Potash at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in Intrepid Potash in the 4th quarter valued at approximately $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the 4th quarter worth $87,000. Aquatic Capital Management LLC lifted its position in shares of Intrepid Potash by 274.3% during the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock worth $123,000 after purchasing an additional 4,114 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Intrepid Potash in the fourth quarter valued at $153,000. Finally, Jump Financial LLC purchased a new stake in Intrepid Potash in the fourth quarter valued at $227,000. Institutional investors and hedge funds own 56.13% of the company's stock.

Intrepid Potash Trading Down 2.4%

Shares of Intrepid Potash stock traded down $0.87 on Monday, reaching $35.89. 154,860 shares of the stock were exchanged, compared to its average volume of 126,930. Intrepid Potash, Inc has a 1-year low of $20.75 and a 1-year high of $39.01. The business has a fifty day moving average price of $35.31 and a two-hundred day moving average price of $29.15. The firm has a market capitalization of $478.05 million, a PE ratio of -2.26 and a beta of 1.76.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $72.34 million. Research analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $37.66, for a total transaction of $2,248,339.66. Following the transaction, the insider now owns 1,044,162 shares of the company's stock, valued at $39,323,140.92. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 91,772 shares of company stock valued at $3,378,374. Company insiders own 2.40% of the company's stock.

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.