Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 159,513 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the completion of the sale, the insider now directly owns 1,285,000 shares of the company’s stock, valued at $32,279,200. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of NYSE IPI traded down $0.20 during trading hours on Thursday, hitting $22.30. The stock had a trading volume of 32,906 shares, compared to its average volume of 93,614. The firm’s 50-day moving average price is $25.80 and its two-hundred day moving average price is $24.49. Intrepid Potash, Inc. has a 52 week low of $17.52 and a 52 week high of $29.75. The company has a market capitalization of $293.53 million, a P/E ratio of -6.66 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). The business had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period in the prior year, the firm earned ($0.53) earnings per share. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 861 shares during the period. State Street Corp grew its stake in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after acquiring an additional 1,732 shares during the period. AQR Capital Management LLC lifted its position in Intrepid Potash by 5.2% during the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after acquiring an additional 2,306 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Intrepid Potash by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after acquiring an additional 2,680 shares during the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IPI. UBS Group increased their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

About Intrepid Potash

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.