Traders Buy Large Volume of Call Options on Intrepid Potash (NYSE:IPI)

Intrepid Potash, Inc. (NYSE:IPI – Get Rating) was the recipient of unusually large options trading on Friday. Traders acquired 2,233 call options on the stock. This represents an increase of approximately 1,039% compared to the average volume of 196 call options.

Several research firms have recently issued reports on IPI. StockNews.com lowered Intrepid Potash from a “buy” rating to a “hold” rating in a report on Friday. UBS Group increased their target price on Intrepid Potash from $23.00 to $25.00 and gave the stock a “sell” rating in a report on Tuesday, January 4th. Finally, Zacks Investment Research lowered Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.25.

NYSE:IPI opened at $70.56 on Friday. The stock’s 50-day simple moving average is $45.01 and its 200 day simple moving average is $40.46. The firm has a market capitalization of $948.54 million, a PE ratio of 37.33 and a beta of 2.06. Intrepid Potash has a twelve month low of $22.82 and a twelve month high of $70.73.

In other Intrepid Potash news, major shareholder Clearway Capital Management Ll sold 11,728 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $56.15, for a total transaction of $658,527.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 91,000 shares of company stock worth $5,413,142 in the last quarter. Company insiders own 26.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Investment Management of Virginia LLC boosted its stake in shares of Intrepid Potash by 42.3% during the third quarter. Investment Management of Virginia LLC now owns 389,619 shares of the basic materials company’s stock valued at $12,040,000 after purchasing an additional 115,812 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Intrepid Potash by 2.5% during the second quarter. Geode Capital Management LLC now owns 166,841 shares of the basic materials company’s stock valued at $5,315,000 after purchasing an additional 4,134 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Intrepid Potash by 25.1% during the second quarter. Parametric Portfolio Associates LLC now owns 9,887 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 1,983 shares in the last quarter. Old West Investment Management LLC acquired a new stake in shares of Intrepid Potash during the third quarter valued at about $766,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Intrepid Potash by 164.3% during the third quarter. The Manufacturers Life Insurance Company now owns 90,625 shares of the basic materials company’s stock valued at $2,800,000 after purchasing an additional 56,338 shares in the last quarter. 37.41% of the stock is currently owned by hedge funds and other institutional investors.

About Intrepid Potash (Get Rating)

Intrepid Potash, Inc engages in the delivery of potassium, magnesium, sulfur, and salt essential. The firm serves the agriculture, organics, animal feed, industrial, and oilfield solutions industries. It operates through the following segments: Potash, Oilfield Solutions, and Trio. The company was founded in January 2000 and is headquartered in Denver, CO.

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