EntryPoint Capital LLC Makes New Investment in Intrepid Potash, Inc. (NYSE:IPI)

EntryPoint Capital LLC bought a new stake in shares of Intrepid Potash, Inc. (NYSE:IPI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,726 shares of the basic materials company’s stock, valued at approximately $235,000.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Intrepid Potash during the third quarter valued at $602,000. State Street Corp grew its stake in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the period. Barclays PLC increased its holdings in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 10,599 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intrepid Potash by 0.8% during the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Intrepid Potash by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IPI. StockNews.com cut shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group cut their price target on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th.

Intrepid Potash Trading Down 2.0 %

IPI stock opened at $29.39 on Friday. The firm has a 50 day moving average of $26.76 and a 200-day moving average of $25.51. The firm has a market capitalization of $388.67 million, a P/E ratio of -8.77 and a beta of 2.18. Intrepid Potash, Inc. has a 12 month low of $18.83 and a 12 month high of $31.29.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results 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). The firm had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the previous year, the business earned ($0.41) earnings per share. Sell-side analysts predict 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 15,476 shares of Intrepid Potash stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the sale, the insider now owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 227,805 shares of company stock worth $6,168,096 over the last ninety days. 18.00% of the stock is 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.