Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 30,000 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $29.00, for a total value of $870,000.00. Following the completion of the transaction, the insider now directly owns 1,444,513 shares in the company, valued at approximately $41,890,877. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock opened at $21.79 on Friday. The stock’s 50-day moving average is $25.70 and its 200 day moving average is $24.45. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The company has a market cap of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last released 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). The firm had revenue of $57.55 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted ($0.53) earnings per share. On average, analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IPI shares. UBS Group upped their target price on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Hedge Funds Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Associates Ltd. purchased a new stake in shares of Intrepid Potash during the 3rd quarter valued at $3,100,000. First Eagle Investment Management LLC raised its stake in Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after buying an additional 121,100 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Intrepid Potash in the second quarter worth about $979,000. Glenorchy Capital Ltd grew its stake in shares of Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after acquiring an additional 30,425 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Intrepid Potash by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after acquiring an additional 26,696 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other 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.