How Intrepid Potash, Inc. (IPI) Stacks Up Against Its Peers

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Howard Guberman’s Gruss Asset Management said goodbye to the biggest position of all the investors studied by Insider Monkey, valued at close to $1.6 million in stock, and Cliff Asness’ AQR Capital Management was right behind this move, as the fund dropped about $0.3 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Intrepid Potash, Inc. (NYSE:IPI). We will take a look at Richardson Electronics, Ltd. (NASDAQ:RELL), Recro Pharma Inc (NASDAQ:REPH), USA Truck, Inc. (NASDAQ:USAK), and Alphatec Holdings Inc (NASDAQ:ATEC). This group of stocks’ market caps match IPI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RELL 4 22924 0
REPH 10 40589 10
USAK 5 12339 -3
ATEC 4 6475 0

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $7 million in IPI’s case. Recro Pharma Inc (NASDAQ:REPH) is the most popular stock in this table. On the other hand Richardson Electronics, Ltd. (NASDAQ:RELL) is the least popular one with only 4 bullish hedge fund positions. Intrepid Potash, Inc. (NYSE:IPI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard REPH might be a better candidate to consider taking a long position in.

Disclosure: None