Robert P. Jornayvaz III Sells 15,476 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.58, for a total value of $473,256.08. Following the transaction, the insider now owns 1,123,230 shares in the company, valued at $34,348,373.40. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

Shares of NYSE IPI opened at $30.28 on Thursday. Intrepid Potash, Inc. has a 1 year low of $18.83 and a 1 year high of $31.29. The firm has a 50-day moving average of $26.64 and a 200 day moving average of $25.43. The stock has a market cap of $400.43 million, a P/E ratio of -9.04 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The business had revenue of $55.80 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.41) earnings per share. Research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price target on 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 Investors Weigh In On Intrepid Potash

Several hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Intrepid Potash in the 4th quarter worth about $38,000. State of Wyoming bought a new position in shares of Intrepid Potash in the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the fourth quarter valued at approximately $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 valued at $123,000 after acquiring an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Intrepid Potash by 14.0% in the 4th 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 during the last quarter. 56.13% of the stock is owned by institutional investors.

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.