FNY Investment Advisers LLC Buys New Stake in Intrepid Potash, Inc. (NYSE:IPI)

FNY Investment Advisers LLC purchased a new position in Intrepid Potash, Inc. (NYSE:IPI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,500 shares of the basic materials company’s stock, valued at approximately $102,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock worth $3,336,000 after acquiring an additional 129,722 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Intrepid Potash in the 4th quarter worth about $87,000. Two Sigma Investments LP lifted its stake in shares of Intrepid Potash by 16.7% during the 4th quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company’s stock worth $1,665,000 after acquiring an additional 10,894 shares during the last quarter. Deutsche Bank AG increased its stake in Intrepid Potash by 25.5% in the fourth quarter. Deutsche Bank AG now owns 24,964 shares of the basic materials company’s stock worth $547,000 after purchasing an additional 5,077 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Intrepid Potash by 26.2% during the fourth quarter. Bank of America Corp DE now owns 19,978 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 4,146 shares during the last quarter. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Stock Up 2.1%

Shares of NYSE IPI opened at $36.92 on Tuesday. Intrepid Potash, Inc. has a twelve month low of $20.75 and a twelve month high of $39.01. The firm has a market cap of $491.69 million, a PE ratio of -11.02 and a beta of 1.76. The business has a fifty day simple moving average of $34.32 and a two-hundred day simple moving average of $28.79.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.51. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $97.76 million during the quarter, compared to the consensus estimate of $72.34 million. On average, research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Intrepid Potash from $20.00 to $19.00 and set a “sell” rating on the stock in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th.

Insider Activity

In other news, major shareholder Robert P. Jornayvaz III sold 8,984 shares of Intrepid Potash stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total value of $274,551.04. Following the transaction, the insider now directly owns 1,105,545 shares in the company, valued at approximately $33,785,455.20. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 107,248 shares of company stock worth $3,851,630. 2.40% of the stock is currently owned by corporate insiders.

Intrepid Potash Company 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.