Gate City Capital Management LLC Acquires 705,638 Shares of Intrepid Potash, Inc $IPI

Gate City Capital Management LLC grew its holdings in Intrepid Potash, Inc (NYSE:IPI) by 338.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 914,026 shares of the basic materials company’s stock after purchasing an additional 705,638 shares during the period. Intrepid Potash comprises approximately 11.0% of Gate City Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Gate City Capital Management LLC owned approximately 6.81% of Intrepid Potash worth $25,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Intrepid Potash by 197.8% in the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 544 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Intrepid Potash by 668.1% in the fourth quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 795 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 607 shares during the last quarter. State of Wyoming acquired a new stake in shares of Intrepid Potash in the second quarter valued at approximately $54,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at approximately $44,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Intrepid Potash Trading Down 4.9%

NYSE:IPI opened at $34.10 on Wednesday. Intrepid Potash, Inc has a 1-year low of $22.55 and a 1-year high of $50.34. The firm has a fifty day simple moving average of $38.54 and a 200 day simple moving average of $35.29. The stock has a market capitalization of $457.94 million, a PE ratio of 32.17 and a beta of 1.22.

Intrepid Potash (NYSE:IPI) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Intrepid Potash had a net margin of 4.68% and a return on equity of 4.53%. The business had revenue of $98.69 million during the quarter, compared to analysts’ expectations of $88.30 million. On average, equities analysts predict that Intrepid Potash, Inc will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Intrepid Potash

In related news, Director Lori A. Lancaster sold 4,800 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the completion of the transaction, the director directly owned 10,540 shares of the company’s stock, valued at approximately $476,829.60. This trade represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

IPI has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a report on Thursday, May 14th. Weiss Ratings raised shares of Intrepid Potash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intrepid Potash has an average rating of “Reduce” and a consensus price target of $26.00.

Intrepid Potash Profile

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.