Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 24,567 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 24,567 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $26.93, for a total transaction of $661,589.31. Following the transaction, the insider now owns 104,663 shares in the company, valued at approximately $2,818,574.59. This trade represents a 19.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Performance

Intrepid Potash stock opened at $27.73 on Friday. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The stock has a market cap of $364.91 million, a P/E ratio of -8.28 and a beta of 2.23. The firm’s fifty day moving average price is $25.04 and its 200-day moving average price is $24.58.

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). 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 analysts’ expectations of $42.57 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. Sell-side analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in Intrepid Potash by 14.0% during the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 830 shares during the last quarter. Rhumbline Advisers lifted its holdings 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 acquiring an additional 861 shares during the last quarter. State Street Corp lifted its holdings in shares of Intrepid Potash by 0.6% during the 3rd 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 last quarter. R Squared Ltd purchased a new position in Intrepid Potash in the fourth quarter worth $38,000. Finally, Geode Capital Management LLC increased its stake in Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after acquiring an additional 1,732 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.