Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $143,112.96 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $26.24, for a total transaction of $143,112.96. Following the sale, the insider now owns 371,533 shares of the company’s stock, valued at approximately $9,749,025.92. This represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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

Shares of NYSE:IPI traded down $0.20 on Thursday, hitting $22.30. The company’s stock had a trading volume of 32,906 shares, compared to its average volume of 93,614. Intrepid Potash, Inc. has a 12 month low of $17.52 and a 12 month high of $29.75. The stock’s 50-day moving average is $25.80 and its two-hundred day moving average is $24.49. The company has a market capitalization of $293.53 million, a price-to-earnings ratio of -6.66 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last issued 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 business had revenue of $57.55 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($0.53) earnings per share. Equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPI. UBS Group lifted their price objective 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.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intrepid Potash by 0.8% in the third 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 last quarter. State Street Corp boosted its holdings in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after acquiring an additional 1,402 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Intrepid Potash in the 3rd quarter valued at approximately $602,000. Finally, Quest Partners LLC grew its stake in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after acquiring an additional 9,448 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.