PDT Partners LLC Purchases Shares of 61,949 Intrepid Potash, Inc $IPI

Key Points

• PDT Partners acquired 61,949 shares of Intrepid Potash during the second quarter, valued at approximately $2.03 million and representing a 0.46% stake.
• Institutional investors collectively own 56.13% of Intrepid Potash, with several funds recently initiating or increasing positions.
• Intrepid Potash reported quarterly EPS of $0.56, missing the $0.78 consensus estimate, while revenue of $66.69 million exceeded expectations. Analysts maintain a consensus “Hold” rating with a $29 price target.

PDT Partners LLC acquired a new stake in Intrepid Potash, Inc (NYSE:IPI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,949 shares of the basic materials company's stock, valued at approximately $2,031,000. PDT Partners LLC owned 0.46% of Intrepid Potash as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of IPI. EverSource Wealth Advisors LLC increased its position in Intrepid Potash by 197.8% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock worth $29,000 after purchasing an additional 544 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Intrepid Potash in the 1st quarter valued at about $37,000. Quantbot Technologies LP acquired a new position in Intrepid Potash in the 2nd quarter valued at about $41,000. Tower Research Capital LLC TRC grew its stake in shares of Intrepid Potash by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company's stock valued at $49,000 after buying an additional 607 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Intrepid Potash in the 2nd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 56.13% of the company's stock.

Intrepid Potash Trading Down 1.1%

Intrepid Potash stock opened at $37.39 on Thursday. The stock has a market cap of $503.27 million, a P/E ratio of 18.88 and a beta of 1.24. The company has a fifty day simple moving average of $35.07 and a 200-day simple moving average of $37.32. Intrepid Potash, Inc has a 12-month low of $22.55 and a 12-month high of $50.34.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.22). Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. The company had revenue of $66.69 million during the quarter, compared to analysts' expectations of $64.86 million. As a group, sell-side analysts forecast that Intrepid Potash, Inc will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IPI shares. Freedom Capital raised shares of Intrepid Potash to a "strong-buy" rating in a research report on Friday, July 24th. Zacks Research raised shares of Intrepid Potash from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. UBS Group upped their price objective on shares of Intrepid Potash from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intrepid Potash in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Intrepid Potash currently has a consensus rating of "Hold" and a consensus price target of $29.00.

Intrepid Potash Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company's primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.

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