Russell Investments Group Ltd. Has $676,000 Holdings in Intrepid Potash, Inc. (NYSE:IPI)

Russell Investments Group Ltd. cut its position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 48.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,859 shares of the basic materials company's stock after selling 28,822 shares during the quarter. Russell Investments Group Ltd. owned about 0.23% of Intrepid Potash worth $676,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IPI. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 129,722 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in Intrepid Potash in the 4th quarter valued at about $1,269,000. Raymond James Financial Inc. bought a new stake in Intrepid Potash in the 4th quarter valued at about $1,028,000. Azarias Capital Management L.P. raised its position in shares of Intrepid Potash by 7.4% during the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company's stock worth $14,412,000 after buying an additional 45,446 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company's stock worth $14,423,000 after acquiring an additional 28,500 shares during the period. 56.13% of the stock is currently owned by institutional investors.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total transaction of $274,551.04. Following the sale, the insider now owns 1,105,545 shares in the company, valued at $33,785,455.20. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 197,655 shares of company stock valued at $5,353,857 over the last ninety days. Insiders own 18.00% of the company's stock.

Intrepid Potash Stock Performance

Shares of NYSE:IPI traded up $0.45 during trading on Monday, reaching $33.70. The company had a trading volume of 254,886 shares, compared to its average volume of 110,792. The firm's fifty day moving average is $27.87 and its 200 day moving average is $26.30. The firm has a market capitalization of $448.92 million, a PE ratio of -10.06 and a beta of 1.78. Intrepid Potash, Inc. has a twelve month low of $19.65 and a twelve month high of $35.17.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on IPI shares. UBS Group reduced their price target 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. StockNews.com lowered shares of Intrepid Potash from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th.

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.