Robert P. Jornayvaz III Sells 3,557 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now directly owns 129,230 shares in the company, valued at $3,230,750. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of IPI traded down $0.20 during trading hours on Thursday, hitting $22.30. 32,906 shares of the stock were exchanged, compared to its average volume of 93,614. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The business has a 50-day moving average of $25.80 and a 200-day moving average of $24.49. The firm 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 issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. During the same quarter in the previous year, the business posted ($0.53) earnings per share. As a group, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

IPI has been the topic of several analyst reports. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group increased their price target on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th.

Hedge Funds Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of Intrepid Potash by 14.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock valued at $1,213,000 after acquiring an additional 6,632 shares during the period. Rhumbline Advisers boosted its position in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares in the last quarter. Acuitas Investments LLC grew its stake in shares of Intrepid Potash by 21.0% in the 2nd quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock valued at $1,079,000 after buying an additional 8,004 shares during the period. American Century Companies Inc. increased its position in Intrepid Potash by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock valued at $4,319,000 after buying an additional 14,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after buying an additional 26,696 shares during the period. 56.13% of the stock is currently owned by institutional investors.

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.