Jane Street Group LLC Trims Stake in Intrepid Potash, Inc. (NYSE:IPI)

Jane Street Group LLC decreased its stake in shares of Intrepid Potash, Inc. (NYSE:IPI) by 31.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,355 shares of the basic materials company’s stock after selling 3,765 shares during the period. Jane Street Group LLC owned 0.06% of Intrepid Potash worth $201,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Intrepid Potash in the 3rd quarter worth approximately $602,000. Quest Partners LLC raised its holdings in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 9,448 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Intrepid Potash by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after purchasing an additional 2,680 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Intrepid Potash during the third quarter worth $3,100,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IPI shares. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th.

Intrepid Potash Stock Down 1.5 %

Shares of IPI opened at $22.78 on Monday. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The company’s fifty day moving average is $25.16 and its two-hundred day moving average is $24.36. The firm has a market cap of $299.85 million, a PE ratio of -6.80 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The firm had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the firm posted ($0.53) EPS. As a group, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Robert P. Jornayvaz III sold 3,557 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.00, for a total value of $88,925.00. Following the completion of the sale, the insider now directly owns 129,230 shares in the company, valued at approximately $3,230,750. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 401,097 shares of company stock valued at $10,189,635. 18.00% of the stock is currently owned by corporate insiders.

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.