Peapod Lane Capital LLC Takes $1.27 Million Position in Intrepid Potash, Inc. (NYSE:IPI)

Peapod Lane Capital LLC purchased a new position in Intrepid Potash, Inc. (NYSE:IPI) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 57,904 shares of the basic materials company’s stock, valued at approximately $1,269,000.

A number of other large investors also recently bought and sold shares of the business. R Squared Ltd bought a new position in shares of Intrepid Potash during the fourth quarter valued at approximately $38,000. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the 3rd quarter worth approximately $142,000. Quest Partners LLC increased its position in Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after buying an additional 9,448 shares in the last quarter. Barclays PLC raised its stake in Intrepid Potash by 282.6% during the third 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. Finally, JPMorgan Chase & Co. boosted its holdings in Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 2,242 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Price Performance

IPI stock opened at $25.07 on Thursday. The business’s 50-day moving average is $24.73 and its two-hundred day moving average is $24.70. Intrepid Potash, Inc. has a fifty-two week low of $18.32 and a fifty-two week high of $29.75.

Wall Street Analyst Weigh In

Several analysts recently commented on IPI shares. UBS Group increased their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Insiders Place Their Bets

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 5,454 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $26.24, for a total transaction of $143,112.96. Following the sale, the insider now directly owns 371,533 shares of the company’s stock, valued at $9,749,025.92. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 428,748 shares of company stock worth $10,870,406 over the last quarter. 18.00% of the stock is currently owned by corporate insiders.

About Intrepid Potash

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.