Intrepid Potash, Inc (NYSE:IPI) Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. trimmed its holdings in shares of Intrepid Potash, Inc (NYSE:IPI - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,380 shares of the basic materials company's stock after selling 418,084 shares during the period. Intrepid Potash makes up about 3.9% of Azarias Capital Management L.P.'s portfolio, making the stock its 5th biggest position. Azarias Capital Management L.P. owned about 1.81% of Intrepid Potash worth $7,035,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IPI. State of Wyoming acquired a new stake in Intrepid Potash during the 4th quarter valued at approximately $46,000. BNP Paribas Financial Markets acquired a new stake in Intrepid Potash during the 4th quarter valued at approximately $87,000. FNY Investment Advisers LLC acquired a new stake in Intrepid Potash during the 1st quarter valued at approximately $102,000. Aquatic Capital Management LLC lifted its stake in 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 valued at $123,000 after acquiring an additional 4,114 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Intrepid Potash during the 4th quarter valued at approximately $153,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intrepid Potash

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 1,044,162 shares in the company, valued at approximately $39,323,140.92. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 91,772 shares of company stock worth $3,378,374 in the last three months. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

IPI has been the subject of several analyst reports. UBS Group decreased their target price on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th.

Intrepid Potash Stock Performance

Shares of IPI traded down $0.87 during trading hours on Monday, hitting $35.89. The stock had a trading volume of 154,860 shares, compared to its average volume of 126,930. The firm has a 50-day moving average price of $35.31 and a 200 day moving average price of $29.15. Intrepid Potash, Inc has a fifty-two week low of $20.75 and a fifty-two week high of $39.01. The firm has a market capitalization of $478.05 million, a price-to-earnings ratio of -2.26 and a beta of 1.76.

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, beating 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 firm had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. As a group, analysts predict that Intrepid Potash, Inc will post -0.17 EPS for the current fiscal year.

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.