Robert P. Jornayvaz III Sells 159,513 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of Intrepid Potash stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total value of $4,006,966.56. Following the sale, the insider now directly owns 1,285,000 shares in the company, valued at $32,279,200. The trade was a 11.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

IPI opened at $21.79 on Friday. The company has a market capitalization of $286.82 million, a PE ratio of -6.50 and a beta of 2.21. The stock’s fifty day moving average is $25.75 and its 200-day moving average is $24.48. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $29.75.

Intrepid Potash (NYSE:IPI) last released 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). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. During the same period in the previous year, the firm earned ($0.53) earnings per share. On average, equities research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Intrepid Potash

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock valued at $539,000 after buying an additional 2,242 shares in the last quarter. Barclays PLC raised its position in shares of Intrepid Potash by 282.6% during the third 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 during the period. Geode Capital Management LLC lifted its holdings in shares of Intrepid Potash by 0.8% during the third 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. State Street Corp increased 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 worth $5,452,000 after purchasing an additional 1,402 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Intrepid Potash during the 3rd quarter worth about $602,000. 56.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IPI. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group boosted their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th.

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.