Intrepid Potash, Inc. (IPI) Major Shareholder Purchases $644,000.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Clearway Capital Management Lt acquired 200,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was purchased at an average cost of $3.22 per share, with a total value of $644,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large 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 Thursday, January 10th, Clearway Capital Management Lt acquired 203,470 shares of Intrepid Potash stock. The stock was purchased at an average cost of $3.18 per share, with a total value of $647,034.60.
  • On Thursday, December 13th, Clearway Capital Management Lt acquired 50,000 shares of Intrepid Potash stock. The stock was purchased at an average cost of $3.00 per share, with a total value of $150,000.00.

Shares of IPI stock traded up $0.51 during mid-day trading on Wednesday, reaching $3.73. 2,245,545 shares of the company were exchanged, compared to its average volume of 462,148. Intrepid Potash, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $5.31. The company has a current ratio of 3.23, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $422.17 million, a P/E ratio of -20.28 and a beta of 1.07.

Several hedge funds have recently added to or reduced their stakes in IPI. BlackRock Inc. grew its position in shares of Intrepid Potash by 7.1% during the second quarter. BlackRock Inc. now owns 6,872,214 shares of the basic materials company’s stock worth $28,175,000 after buying an additional 453,297 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Intrepid Potash during the second quarter worth approximately $4,298,000. Bank of America Corp DE grew its position in shares of Intrepid Potash by 96.9% during the second quarter. Bank of America Corp DE now owns 41,056 shares of the basic materials company’s stock worth $167,000 after buying an additional 20,204 shares in the last quarter. Northern Trust Corp grew its position in shares of Intrepid Potash by 4.0% during the second quarter. Northern Trust Corp now owns 1,106,954 shares of the basic materials company’s stock worth $4,539,000 after buying an additional 42,255 shares in the last quarter. Finally, Malaga Cove Capital LLC acquired a new stake in shares of Intrepid Potash during the third quarter worth approximately $385,000. 43.51% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on IPI. Zacks Investment Research raised shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Tuesday, January 22nd. TheStreet raised shares of Intrepid Potash from a “d+” rating to a “c-” rating in a research report on Monday, November 12th. BMO Capital Markets increased their price objective on shares of Intrepid Potash from $3.25 to $4.00 and gave the company a “market perform” rating in a research report on Wednesday, October 31st. Finally, Stephens set a $7.00 price objective on shares of Intrepid Potash and gave the company a “buy” rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $4.56.

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About Intrepid Potash

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

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