Quest Partners LLC Boosts Stock Position in Intrepid Potash, Inc. (NYSE:IPI)

Quest Partners LLC increased its holdings in shares of Intrepid Potash, Inc. (NYSE:IPI) by 24,863.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,486 shares of the basic materials company’s stock after buying an additional 9,448 shares during the period. Quest Partners LLC’s holdings in Intrepid Potash were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the third quarter valued at about $142,000. Squarepoint Ops LLC acquired a new stake in Intrepid Potash in the 2nd quarter worth about $303,000. Rhumbline Advisers increased its stake in Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after buying an additional 861 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Intrepid Potash during the second quarter valued at approximately $979,000. Finally, Acuitas Investments LLC lifted its position in shares of Intrepid Potash by 21.0% in the second quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock valued at $1,079,000 after acquiring an additional 8,004 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Intrepid Potash Price Performance

IPI stock opened at $27.57 on Wednesday. Intrepid Potash, Inc. has a 1 year low of $17.52 and a 1 year high of $29.75. The firm has a market capitalization of $362.82 million, a PE ratio of -8.22 and a beta of 2.18. The business has a 50 day simple moving average of $25.29 and a 200-day simple moving average of $24.64.

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

Analyst Upgrades and Downgrades

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

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.