Gate City Capital Management LLC Has $25.35 Million Holdings in Intrepid Potash, Inc $IPI

Gate City Capital Management LLC boosted its stake in shares of Intrepid Potash, Inc (NYSE:IPI) by 338.6% in the fourth quarter, HoldingsChannel reports. The firm owned 914,026 shares of the basic materials company’s stock after purchasing an additional 705,638 shares during the quarter. Intrepid Potash accounts for about 11.0% of Gate City Capital Management LLC’s holdings, making the stock its 3rd largest holding. Gate City Capital Management LLC owned about 0.07% of Intrepid Potash worth $25,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In related news, Director Lori A. Lancaster sold 4,800 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total transaction of $217,152.00. Following the completion of the sale, the director owned 10,540 shares of the company’s stock, valued at $476,829.60. This represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Intrepid Potash Stock Performance

Shares of Intrepid Potash stock opened at $34.10 on Wednesday. The firm has a 50-day moving average of $38.54 and a 200-day moving average of $35.29. The stock has a market cap of $457.94 million, a PE ratio of 32.17 and a beta of 1.22. Intrepid Potash, Inc has a 52-week low of $22.55 and a 52-week high of $50.34.

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

Wall Street Analyst Weigh In

IPI has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Intrepid Potash from $25.00 to $26.00 and gave the company a “sell” rating in a research 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 report on Friday, May 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $26.00.

Intrepid Potash Company 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.