BlueMountain Capital Management LLC Invests $125,000 in Intrepid Potash, Inc. (IPI) Stock
BlueMountain Capital Management LLC acquired a new position in shares of Intrepid Potash, Inc. (NYSE:IPI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,564 shares of the basic materials company’s stock, valued at approximately $125,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in Intrepid Potash by 13.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 212,697 shares of the basic materials company’s stock worth $775,000 after acquiring an additional 25,900 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Intrepid Potash during the 2nd quarter worth $433,000. GSA Capital Partners LLP purchased a new position in shares of Intrepid Potash in the 2nd quarter worth about $681,000. ClariVest Asset Management LLC boosted its holdings in shares of Intrepid Potash by 12.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 338,159 shares of the basic materials company’s stock worth $1,386,000 after buying an additional 37,348 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Intrepid Potash by 25.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,980,432 shares of the basic materials company’s stock worth $18,129,000 after buying an additional 1,022,582 shares during the last quarter. 45.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on IPI shares. Zacks Investment Research raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. ValuEngine downgraded shares of Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, BMO Capital Markets cut their price target on shares of Intrepid Potash from $4.00 to $3.25 and set a “market perform” rating on the stock in a report on Monday, August 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Intrepid Potash currently has a consensus rating of “Hold” and an average target price of $4.13.
Shares of NYSE:IPI opened at $3.63 on Wednesday. The company has a current ratio of 3.47, a quick ratio of 1.53 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $481.16 million, a P/E ratio of -20.17 and a beta of 1.11. Intrepid Potash, Inc. has a fifty-two week low of $3.12 and a fifty-two week high of $5.31.
Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Thursday, August 2nd. The basic materials company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.05). The company had revenue of $54.00 million during the quarter, compared to analysts’ expectations of $43.08 million. Intrepid Potash had a negative return on equity of 1.15% and a negative net margin of 1.47%. Intrepid Potash’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. analysts expect that Intrepid Potash, Inc. will post 0.1 EPS for the current year.
Intrepid Potash Profile
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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