Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 47,429 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the completion of the transaction, the insider now directly owns 1,164,794 shares of the company’s stock, valued at approximately $30,913,632.76. This represents a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 0.8 %

Shares of NYSE:IPI traded down $0.25 during trading on Tuesday, hitting $28.94. 139,072 shares of the company’s stock were exchanged, compared to its average volume of 143,687. Intrepid Potash, Inc. has a 1-year low of $18.55 and a 1-year high of $29.75. The firm has a 50-day moving average price of $25.94 and a two-hundred day moving average price of $25.16. The firm has a market cap of $382.69 million, a P/E ratio of -8.64 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. As a group, research analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

Separately, UBS Group dropped their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in 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 period. Barclays PLC grew its holdings in Intrepid Potash by 282.6% during 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 during the period. State Street Corp grew 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 purchasing an additional 1,402 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Intrepid Potash during the third quarter valued at approximately $602,000. Finally, JPMorgan Chase & Co. grew its holdings in Intrepid Potash by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 2,242 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.