B. Riley Wealth Advisors Inc. acquired a new stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,950 shares of the basic materials company's stock, valued at approximately $1,007,000. B. Riley Wealth Advisors Inc. owned about 0.35% of Intrepid Potash as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised 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 acquiring an additional 129,722 shares during the last quarter. Deutsche Bank AG raised its holdings in Intrepid Potash by 25.5% in the 4th quarter. Deutsche Bank AG now owns 24,964 shares of the basic materials company's stock valued at $547,000 after acquiring an additional 5,077 shares during the last quarter. Azarias Capital Management L.P. raised its holdings in Intrepid Potash by 7.4% in the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock valued at $14,412,000 after acquiring an additional 45,446 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Intrepid Potash by 25.4% in 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 purchasing an additional 16,018 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at approximately $1,028,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of Intrepid Potash stock in a transaction dated 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 directly owns 1,105,545 shares in the company, valued at $33,785,455.20. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 180,765 shares of company stock valued at $5,858,599. 2.40% of the stock is currently owned by insiders.
Intrepid Potash Stock Performance
Shares of NYSE IPI traded up $0.60 during midday trading on Friday, reaching $37.74. 141,247 shares of the stock were exchanged, compared to its average volume of 122,200. The company has a 50 day simple moving average of $32.39 and a 200 day simple moving average of $28.05. The stock has a market capitalization of $502.58 million, a P/E ratio of -11.27 and a beta of 1.80. Intrepid Potash, Inc. has a twelve month low of $20.75 and a twelve month high of $39.01.
Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.51. The company had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. On average, research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.
Analyst Ratings Changes
Several research firms recently commented on IPI. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. UBS Group cut their target price on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a research note on Wednesday, April 16th.
Read Our Latest Research Report on IPI
About Intrepid Potash
(
Free Report)
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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