Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $736,021.52 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $26.78, for a total transaction of $736,021.52. Following the completion of the sale, the insider now directly owns 56,987 shares in the company, valued at approximately $1,526,111.86. The trade was a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

NYSE IPI opened at $27.06 on Thursday. The stock has a market cap of $356.04 million, a PE ratio of -8.08 and a beta of 2.23. The firm has a 50-day moving average of $25.04 and a 200-day moving average of $24.68. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (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 company had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. During the same quarter last year, the business earned ($0.53) earnings per share. As a group, analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Intrepid Potash

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after buying an additional 1,732 shares during the period. Glenorchy Capital Ltd increased its position in 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 period. Barclays PLC raised its stake 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 purchasing an additional 10,599 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Intrepid Potash in the 3rd quarter valued at about $3,100,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Intrepid Potash during the 3rd quarter worth approximately $602,000. 56.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group boosted their price target on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research 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.