Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 57,441 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.84, for a total transaction of $1,484,275.44. Following the transaction, the insider now owns 1,227,559 shares in the company, valued at $31,720,124.56. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Intrepid Potash stock opened at $26.65 on Wednesday. The stock has a market cap of $352.51 million, a price-to-earnings ratio of -7.95 and a beta of 2.23. The firm has a 50-day moving average of $24.73 and a two-hundred day moving average of $24.69. Intrepid Potash, Inc. has a 1 year low of $18.32 and a 1 year high of $29.75.

Institutional Trading of Intrepid Potash

Large investors have recently modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in Intrepid Potash by 4.5% during the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company’s stock worth $14,423,000 after purchasing an additional 28,500 shares during the period. Azarias Capital Management L.P. increased its stake in shares of Intrepid Potash by 7.4% during the fourth quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company’s stock valued at $14,412,000 after buying an additional 45,446 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intrepid Potash by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company’s stock valued at $5,151,000 after acquiring an additional 3,314 shares in the last quarter. State Street Corp lifted its stake in Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Intrepid Potash by 0.6% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 1,272 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IPI shares. UBS Group upped their target price on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, January 28th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research 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.