Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $4,829,730.84 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 192,573 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $25.08, for a total value of $4,829,730.84. Following the completion of the sale, the insider now directly owns 178,860 shares of the company’s stock, valued at $4,485,808.80. The trade was a 51.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 1.4 %

NYSE IPI opened at $21.79 on Friday. The firm has a market cap of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75. The business’s 50-day moving average price is $25.70 and its 200 day moving average price is $24.45.

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

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the 3rd quarter worth $142,000. Quest Partners LLC raised its holdings in Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Intrepid Potash during the second quarter worth about $303,000. Barclays PLC lifted its position in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Intrepid Potash by 5.0% in the 2nd 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 in the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on IPI. UBS Group lifted their price target on 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 raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

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.