GAMMA Investing LLC Raises Stock Holdings in Intrepid Potash, Inc. (NYSE:IPI)

GAMMA Investing LLC increased its position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 3,323.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,713 shares of the basic materials company's stock after buying an additional 28,845 shares during the quarter. GAMMA Investing LLC owned 0.22% of Intrepid Potash worth $8,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new stake in Intrepid Potash in the 4th quarter worth $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the fourth quarter worth about $87,000. Aquatic Capital Management LLC boosted its holdings in shares of Intrepid Potash by 274.3% during the fourth 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 period. SG Americas Securities LLC grew its stake in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company's stock worth $148,000 after purchasing an additional 830 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Intrepid Potash during the 4th quarter valued at about $153,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IPI. UBS Group cut their price objective on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th.

Intrepid Potash Stock Down 1.4%

Shares of IPI traded down $0.51 during trading hours on Monday, reaching $36.78. 181,190 shares of the company traded hands, compared to its average volume of 123,628. Intrepid Potash, Inc. has a 12 month low of $20.75 and a 12 month high of $39.01. The company's fifty day moving average price is $33.19 and its two-hundred day moving average price is $28.43. The company has a market capitalization of $489.85 million, a price-to-earnings ratio of -10.98 and a beta of 1.76.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate 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 business had revenue of $97.76 million during the quarter, compared to analyst estimates of $72.34 million. On average, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Insider Activity

In other news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were 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 of the company's stock, valued at $39,323,140.92. This represents a 5.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 180,765 shares of company stock worth $5,858,599 in the last quarter. 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.