Renaissance Technologies LLC Has $2.45 Million Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Renaissance Technologies LLC grew its stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 110.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 111,871 shares of the basic materials company's stock after acquiring an additional 58,630 shares during the period. Renaissance Technologies LLC owned about 0.85% of Intrepid Potash worth $2,452,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Intrepid Potash by 8.0% during the 4th quarter. Invesco Ltd. now owns 57,797 shares of the basic materials company's stock worth $1,267,000 after purchasing an additional 4,273 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Intrepid Potash by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 13,652 shares of the basic materials company's stock valued at $299,000 after purchasing an additional 1,486 shares during the last quarter. Geode Capital Management LLC boosted its stake in Intrepid Potash by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company's stock worth $5,151,000 after buying an additional 3,314 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Intrepid Potash by 577.1% in the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after buying an additional 129,722 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Intrepid Potash during the 4th quarter worth approximately $235,000. Hedge funds and other institutional investors own 56.13% of the company's stock.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 57,441 shares of Intrepid Potash stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.84, for a total value of $1,484,275.44. Following the completion of the transaction, the insider now directly owns 1,227,559 shares of the company's stock, valued at approximately $31,720,124.56. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 170,171 shares of company stock valued at $4,617,835 over the last three months. 18.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com lowered shares of Intrepid Potash from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. UBS Group dropped their price target on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research report on Wednesday, April 16th.

Intrepid Potash Trading Up 0.7 %

NYSE:IPI traded up $0.24 during mid-day trading on Thursday, reaching $33.28. The company's stock had a trading volume of 51,153 shares, compared to its average volume of 111,226. Intrepid Potash, Inc. has a 12-month low of $19.95 and a 12-month high of $35.17. The stock has a market cap of $443.26 million, a P/E ratio of -9.92 and a beta of 1.78. The firm's fifty day moving average price is $28.16 and its two-hundred day moving average price is $26.39.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. Analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

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.