Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 26,088 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of Intrepid Potash stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $28.68, for a total value of $748,203.84. Following the completion of the transaction, the insider now directly owns 1,138,706 shares in the company, valued at $32,658,088.08. This represents a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 0.5 %

Shares of NYSE IPI opened at $29.03 on Friday. The stock has a fifty day moving average price of $26.30 and a 200 day moving average price of $25.25. Intrepid Potash, Inc. has a 12-month low of $18.55 and a 12-month high of $29.75. The company has a market cap of $383.98 million, a P/E ratio of -8.67 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same quarter last year, the business posted ($0.41) EPS. On average, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Intrepid Potash

A number of hedge funds have recently made changes to their positions in IPI. R Squared Ltd purchased a new position in shares of Intrepid Potash in the fourth quarter valued at $38,000. State of Wyoming purchased a new position in Intrepid Potash in the 4th quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Intrepid Potash during the fourth quarter valued at about $87,000. Aquatic Capital Management LLC increased its position in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 830 shares in the last quarter. Hedge funds and other institutional investors 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.