Peapod Lane Capital LLC Makes New Investment in Intrepid Potash, Inc. (NYSE:IPI)

Peapod Lane Capital LLC bought a new stake in Intrepid Potash, Inc. (NYSE:IPI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,904 shares of the basic materials company’s stock, valued at approximately $1,269,000. Peapod Lane Capital LLC owned about 0.44% of Intrepid Potash as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Associates Ltd. bought a new stake in shares of Intrepid Potash in the 3rd quarter worth approximately $3,100,000. Glenorchy Capital Ltd raised its stake in shares of Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after buying an additional 30,425 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Intrepid Potash during the 3rd quarter valued at $602,000. Barclays PLC lifted its position in shares of Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after buying an additional 10,599 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 9,448 shares during the period. 56.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IPI shares. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group boosted their price target on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, January 28th.

Insider Activity at Intrepid Potash

In other news, major shareholder Robert P. Jornayvaz III sold 5,454 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $26.24, for a total value of $143,112.96. Following the completion of the sale, the insider now owns 371,533 shares of the company’s stock, valued at approximately $9,749,025.92. The trade was a 1.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 428,748 shares of company stock valued at $10,870,406. Corporate insiders own 18.00% of the company’s stock.

Intrepid Potash Price Performance

Shares of NYSE IPI opened at $25.07 on Thursday. The business has a 50-day moving average of $24.73 and a 200-day moving average of $24.70. Intrepid Potash, Inc. has a 12 month low of $18.32 and a 12 month high of $29.75.

Intrepid Potash Company 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.