Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 27,484 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $26.78, for a total transaction of $736,021.52. Following the sale, the insider now owns 56,987 shares in the company, valued at approximately $1,526,111.86. The trade was a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Up 0.1 %

Intrepid Potash stock opened at $27.09 on Friday. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The company has a fifty day simple moving average of $25.04 and a 200 day simple moving average of $24.69. The company has a market cap of $356.52 million, a P/E ratio of -8.09 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same period in the prior year, the firm posted ($0.53) EPS. On average, equities research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of Intrepid Potash in the 4th quarter valued at approximately $38,000. SG Americas Securities LLC acquired a new stake in Intrepid Potash in the third quarter valued at $142,000. Quest Partners LLC grew its position in shares of Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 9,448 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Intrepid Potash during the 2nd quarter worth about $303,000. Finally, Barclays PLC raised its holdings in shares of Intrepid Potash by 282.6% in the 3rd 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. Institutional investors and hedge funds own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group lifted their target price on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday.

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.