Azarias Capital Management L.P. Trims Holdings in Intrepid Potash, Inc $IPI

Azarias Capital Management L.P. cut its holdings in Intrepid Potash, Inc (NYSE:IPI) by 34.2% during the second quarter, Holdings Channel reports. The institutional investor owned 157,522 shares of the basic materials company’s stock after selling 81,858 shares during the quarter. Intrepid Potash makes up approximately 2.6% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 14th biggest position. Azarias Capital Management L.P.’s holdings in Intrepid Potash were worth $5,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Empowered Funds LLC grew its holdings in Intrepid Potash by 7.3% in the first quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock worth $1,782,000 after purchasing an additional 4,137 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after purchasing an additional 312 shares during the period. Invenomic Capital Management LP purchased a new stake in shares of Intrepid Potash in the 1st quarter worth approximately $10,210,000. Bridgeway Capital Management LLC grew its stake in shares of Intrepid Potash by 4.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 107,479 shares of the basic materials company’s stock worth $3,159,000 after buying an additional 4,137 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Intrepid Potash in the 1st quarter worth approximately $223,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IPI shares. UBS Group cut their target price on Intrepid Potash from $24.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, August 7th. Wall Street Zen raised shares of Intrepid Potash from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Zacks Research raised shares of Intrepid Potash from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intrepid Potash in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Intrepid Potash currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Insider Transactions at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 53,035 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $34.30, for a total value of $1,819,100.50. Following the sale, the insider owned 3,950 shares in the company, valued at approximately $135,485. This trade represents a 93.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Intrepid Potash Price Performance

Intrepid Potash stock opened at $29.34 on Friday. Intrepid Potash, Inc has a one year low of $20.86 and a one year high of $39.01. The stock has a market capitalization of $390.76 million, a PE ratio of -1.88 and a beta of 1.79. The business’s fifty day moving average is $29.87 and its 200 day moving average is $32.42.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.17 by $0.28. The company had revenue of $71.47 million for the quarter, compared to analysts’ expectations of $56.14 million. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. As a group, sell-side analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current fiscal year.

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.