Russell Investments Group Ltd. Lowers Position in Intrepid Potash, Inc. (NYSE:IPI)

Russell Investments Group Ltd. lessened its stake in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 48.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,859 shares of the basic materials company's stock after selling 28,822 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Intrepid Potash worth $676,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in Intrepid Potash during the 4th quarter valued at $38,000. SG Americas Securities LLC lifted its position in shares of Intrepid Potash by 14.0% during 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. EntryPoint Capital LLC purchased a new position in Intrepid Potash during the fourth quarter worth about $235,000. Wells Fargo & Company MN grew its position in Intrepid Potash by 12.2% in the 4th quarter. Wells Fargo & Company MN now owns 13,652 shares of the basic materials company's stock worth $299,000 after purchasing an additional 1,486 shares in the last quarter. Finally, Barclays PLC increased its stake in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock valued at $344,000 after buying an additional 10,599 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company's stock.

Insider Activity

In related news, major shareholder Robert P. Jornayvaz III sold 5,600 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $27.35, for a total transaction of $153,160.00. Following the sale, the insider now directly owns 99,063 shares in the company, valued at approximately $2,709,373.05. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 203,255 shares of company stock valued at $5,507,017 in the last 90 days. Insiders own 18.00% of the company's stock.

Intrepid Potash Stock Performance

Shares of IPI stock opened at $29.98 on Wednesday. Intrepid Potash, Inc. has a 52 week low of $19.34 and a 52 week high of $31.29. The firm's 50-day simple moving average is $27.36 and its two-hundred day simple moving average is $26.04. The firm has a market cap of $396.48 million, a price-to-earnings ratio of -8.95 and a beta of 1.78.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $55.80 million during the quarter, compared to analysts' expectations of $50.35 million. During the same quarter in the previous year, the company posted ($0.41) EPS. Analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IPI. UBS Group cut their target price on Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a research note on Wednesday, April 16th. StockNews.com cut Intrepid Potash from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th.

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.

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