Royce & Associates LP Sells 487,600 Shares of Intrepid Potash Inc. (IPI)
Royce & Associates LP lowered its stake in Intrepid Potash Inc. (NYSE:IPI) by 37.8% during the second quarter, Holdings Channel reports. The fund owned 801,799 shares of the company’s stock after selling 487,600 shares during the period. Royce & Associates LP owned about 1.07% of Intrepid Potash worth $1,155,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Intrepid Potash by 82.7% in the first quarter. Renaissance Technologies LLC now owns 1,842,400 shares of the company’s stock valued at $2,045,000 after buying an additional 833,800 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Intrepid Potash by 88.4% in the second quarter. California Public Employees Retirement System now owns 438,300 shares of the company’s stock valued at $631,000 after buying an additional 205,600 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Intrepid Potash during the second quarter valued at $114,000. Squarepoint Ops LLC raised its stake in shares of Intrepid Potash by 86.0% in the first quarter. Squarepoint Ops LLC now owns 90,769 shares of the company’s stock valued at $101,000 after buying an additional 41,980 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Intrepid Potash by 1.1% in the first quarter. BlackRock Fund Advisors now owns 3,543,384 shares of the company’s stock valued at $3,933,000 after buying an additional 38,741 shares during the last quarter. 41.70% of the stock is currently owned by institutional investors.
Shares of Intrepid Potash Inc. (NYSE:IPI) traded down 7.26% during trading on Monday, reaching $1.15. The company’s stock had a trading volume of 1,386,555 shares. The company’s market cap is $86.34 million. The firm’s 50-day moving average is $1.34 and its 200 day moving average is $1.29. Intrepid Potash Inc. has a 52-week low of $0.65 and a 52-week high of $7.49.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.02. The company earned $51.84 million during the quarter, compared to the consensus estimate of $51.04 million. Intrepid Potash had a negative net margin of 251.86% and a negative return on equity of 9.92%. The business’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, equities research analysts predict that Intrepid Potash Inc. will post ($0.61) EPS for the current fiscal year.
Several analysts have recently weighed in on IPI shares. Morgan Stanley reissued a “sell” rating and set a $1.00 price objective on shares of Intrepid Potash in a report on Thursday, June 16th. Zacks Investment Research raised Intrepid Potash from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Intrepid Potash presently has an average rating of “Hold” and a consensus price target of $2.44.
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 containing products segment. Its products are potash and Trio.
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