Intrepid Potash, Inc (IPI) Major Shareholder Acquires $849,000.00 in Stock

Intrepid Potash, Inc (NYSE:IPI) major shareholder Clearway Capital Management Lt purchased 300,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was acquired at an average price of $2.83 per share, with a total value of $849,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Clearway Capital Management Lt also recently made the following trade(s):

  • On Wednesday, August 9th, Clearway Capital Management Lt acquired 460,000 shares of Intrepid Potash stock. The shares were purchased at an average price of $3.37 per share, with a total value of $1,550,200.00.
  • On Friday, August 11th, Clearway Capital Management Lt acquired 476,400 shares of Intrepid Potash stock. The shares were purchased at an average price of $3.37 per share, with a total value of $1,605,468.00.
  • On Tuesday, August 1st, Clearway Capital Management Lt acquired 215,707 shares of Intrepid Potash stock. The shares were purchased at an average price of $2.98 per share, with a total value of $642,806.86.
  • On Monday, July 31st, Clearway Capital Management Lt acquired 32,141 shares of Intrepid Potash stock. The shares were purchased at an average price of $3.00 per share, with a total value of $96,423.00.
  • On Thursday, July 27th, Clearway Capital Management Lt acquired 592,883 shares of Intrepid Potash stock. The shares were purchased at an average price of $2.89 per share, with a total value of $1,713,431.87.

Shares of Intrepid Potash, Inc (IPI) opened at 3.40 on Friday. The firm has a 50-day moving average of $2.83 and a 200-day moving average of $2.21. The firm’s market capitalization is $416.92 million. Intrepid Potash, Inc has a 12-month low of $0.93 and a 12-month high of $3.93.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. Intrepid Potash had a negative net margin of 30.56% and a negative return on equity of 12.37%. The company had revenue of $43.90 million during the quarter, compared to analyst estimates of $37.75 million. During the same period in the prior year, the business posted ($0.17) EPS. The firm’s revenue was down 15.3% compared to the same quarter last year. Equities analysts anticipate that Intrepid Potash, Inc will post ($0.24) earnings per share for the current year.

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Several research firms have recently weighed in on IPI. BidaskClub upgraded shares of Intrepid Potash from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. UBS AG cut shares of Intrepid Potash from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $2.00 to $2.50 in a research report on Monday, August 7th. BMO Capital Markets increased their price objective on shares of Intrepid Potash from $2.00 to $3.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Wednesday.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Segantii Capital Management Ltd increased its position in shares of Intrepid Potash by 1,134.8% in the first quarter. Segantii Capital Management Ltd now owns 138,300 shares of the basic materials company’s stock worth $238,000 after buying an additional 127,100 shares during the last quarter. Royce & Associates LP increased its position in shares of Intrepid Potash by 7.7% in the first quarter. Royce & Associates LP now owns 339,406 shares of the basic materials company’s stock worth $584,000 after buying an additional 24,406 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Intrepid Potash by 10.9% in the first quarter. California Public Employees Retirement System now owns 974,500 shares of the basic materials company’s stock worth $1,676,000 after buying an additional 96,100 shares during the last quarter. FMR LLC increased its position in shares of Intrepid Potash by 10.8% in the first quarter. FMR LLC now owns 5,392,100 shares of the basic materials company’s stock worth $9,274,000 after buying an additional 525,600 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intrepid Potash by 180.0% in the first quarter. Wellington Management Group LLP now owns 126,757 shares of the basic materials company’s stock worth $218,000 after buying an additional 81,484 shares during the last quarter. 42.41% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Company Profile

Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.

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