Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 5,600 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,600 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $27.35, for a total value of $153,160.00. Following the completion of the transaction, the insider now directly owns 99,063 shares in the company, valued at $2,709,373.05. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 2.5 %

IPI opened at $26.15 on Wednesday. Intrepid Potash, Inc. has a 12 month low of $17.52 and a 12 month high of $29.75. The company has a fifty day simple moving average of $25.03 and a 200 day simple moving average of $24.66. The stock has a market cap of $344.13 million, a P/E ratio of -7.81 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 for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The company had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period in the previous year, the company posted ($0.53) earnings per share. On average, equities research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after buying an additional 830 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake in Intrepid Potash by 0.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock valued at $4,803,000 after purchasing an additional 1,272 shares during the last quarter. State Street Corp lifted its stake in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after purchasing an additional 1,402 shares during the last quarter. R Squared Ltd acquired a new stake in Intrepid Potash in the 4th quarter valued at about $38,000. Finally, Geode Capital Management LLC lifted its stake in Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on IPI. UBS Group upped their price objective on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a 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.