Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 27,484 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of Intrepid Potash stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $26.78, for a total value of $736,021.52. Following the transaction, the insider now owns 56,987 shares in the company, valued at approximately $1,526,111.86. This represents a 32.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE IPI traded up $0.84 during mid-day trading on Wednesday, hitting $27.06. The company’s stock had a trading volume of 108,367 shares, compared to its average volume of 122,393. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75. The stock’s fifty day simple moving average is $25.03 and its two-hundred day simple moving average is $24.66. The firm has a market capitalization of $356.04 million, a P/E ratio of -8.08 and a beta of 2.23.

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

Analyst Ratings Changes

Several research analysts recently commented on IPI shares. UBS Group boosted their target price on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Trading of Intrepid Potash

Several institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $38,000. SG Americas Securities LLC acquired a new position in Intrepid Potash during the third quarter valued at approximately $142,000. Quest Partners LLC grew its stake in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after buying an additional 9,448 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Intrepid Potash in the second quarter worth about $303,000. Finally, Barclays PLC increased its position in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.