Bridgeway Capital Management LLC Sells 7,287 Shares of Intrepid Potash, Inc. (NYSE:IPI)

Bridgeway Capital Management LLC decreased its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 103,342 shares of the basic materials company’s stock after selling 7,287 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Intrepid Potash were worth $2,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd acquired a new position in Intrepid Potash during the fourth quarter worth $38,000. BNP Paribas Financial Markets bought a new position in shares of Intrepid Potash in the 4th quarter valued at about $87,000. Aquatic Capital Management LLC raised its holdings in Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 4,114 shares in the last quarter. SG Americas Securities LLC grew its stake in Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 830 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Intrepid Potash during the 4th quarter worth approximately $227,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IPI shares. UBS Group decreased their target price 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 upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday.

Intrepid Potash Stock Performance

Shares of IPI stock opened at $37.95 on Friday. The company has a 50-day simple moving average of $29.63 and a 200 day simple moving average of $26.95. The company has a market capitalization of $505.38 million, a price-to-earnings ratio of -11.33 and a beta of 1.80. Intrepid Potash, Inc. has a 52 week low of $20.75 and a 52 week high of $38.87.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.51. The company had revenue of $97.76 million for the quarter, compared to analyst estimates of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. Sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $37.66, for a total value of $2,248,339.66. Following the completion of the sale, the insider now directly owns 1,044,162 shares in the company, valued at approximately $39,323,140.92. The trade was a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 229,872 shares of company stock valued at $6,866,175. 18.00% of the stock is owned by company insiders.

Intrepid Potash 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.