Robert P. Jornayvaz III Sells 15,476 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.58, for a total transaction of $473,256.08. Following the transaction, the insider now directly owns 1,123,230 shares of the company’s stock, valued at $34,348,373.40. This represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 NYSE IPI opened at $30.07 on Friday. The firm’s 50 day simple moving average is $26.71 and its 200-day simple moving average is $25.46. Intrepid Potash, Inc. has a 12 month low of $18.83 and a 12 month high of $31.29. The stock has a market capitalization of $397.73 million, a price-to-earnings ratio of -8.98 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. During the same period in the previous year, the firm posted ($0.41) EPS. Analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on IPI shares. StockNews.com cut shares of Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday. UBS Group reduced their price objective on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th.

Hedge Funds Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock valued at $3,336,000 after buying an additional 129,722 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Intrepid Potash by 110.1% during the fourth quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock valued at $2,452,000 after purchasing an additional 58,630 shares in the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Intrepid Potash in the fourth quarter valued at about $1,269,000. The Manufacturers Life Insurance Company grew its position in shares of Intrepid Potash by 191.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock valued at $1,604,000 after purchasing an additional 48,068 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Intrepid Potash during the 4th quarter worth about $1,028,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.