Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $661,589.31 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 24,567 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $26.93, for a total transaction of $661,589.31. Following the completion of the sale, the insider now owns 104,663 shares of the company’s stock, valued at approximately $2,818,574.59. The trade was a 19.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 2.1 %

NYSE:IPI opened at $27.22 on Friday. The firm has a market capitalization of $358.18 million, a P/E ratio of -8.12 and a beta of 2.23. The company has a fifty day moving average of $25.04 and a 200 day moving average of $24.61. Intrepid Potash, Inc. has a 52 week low of $17.52 and a 52 week high of $29.75.

Intrepid Potash (NYSE:IPI) last posted its earnings results 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). The business had revenue of $57.55 million during the quarter, compared to the consensus estimate 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 business earned ($0.53) earnings per share. As a group, analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Intrepid Potash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after purchasing an additional 26,696 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 1,732 shares during the period. State Street Corp raised its stake in Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after buying an additional 1,402 shares in the last quarter. American Century Companies Inc. lifted its holdings in Intrepid Potash by 8.8% in the second quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock worth $4,319,000 after buying an additional 14,968 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in Intrepid Potash during the 3rd quarter valued at approximately $3,100,000. Institutional investors own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IPI. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group boosted their target price on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th.

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.