Robert P. Jornayvaz III Sells 57,441 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.84, for a total transaction of $1,484,275.44. Following the completion of the transaction, the insider now directly owns 1,227,559 shares of the company’s stock, valued at $31,720,124.56. This represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

Shares of IPI traded up $0.76 during midday trading on Tuesday, reaching $26.65. The stock had a trading volume of 98,499 shares, compared to its average volume of 125,713. The company’s fifty day simple moving average is $24.73 and its two-hundred day simple moving average is $24.69. The company has a market cap of $352.51 million, a price-to-earnings ratio of -7.95 and a beta of 2.23. Intrepid Potash, Inc. has a 1-year low of $18.32 and a 1-year high of $29.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Intrepid Potash in the fourth quarter valued at approximately $38,000. State of Wyoming purchased a new stake in shares of Intrepid Potash during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new position in shares of Intrepid Potash in the 4th quarter valued at $87,000. Aquatic Capital Management LLC grew its position in shares of Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after buying an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Intrepid Potash in the 3rd quarter valued at $142,000. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on IPI shares. UBS Group increased their price objective on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, January 28th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note 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.