Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $870,000.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of Intrepid Potash stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $29.00, for a total value of $870,000.00. Following the completion of the sale, the insider now owns 1,444,513 shares of the company’s stock, valued at $41,890,877. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of NYSE:IPI opened at $22.10 on Friday. Intrepid Potash, Inc. has a 1 year low of $17.52 and a 1 year high of $29.75. The stock has a 50-day simple moving average of $25.75 and a 200-day simple moving average of $24.48. The stock has a market capitalization of $290.90 million, a P/E ratio of -6.60 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). The business had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period in the previous year, the company earned ($0.53) EPS. Analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPI. SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash in the third quarter valued at about $142,000. Quest Partners LLC boosted its holdings in 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 worth $228,000 after acquiring an additional 9,448 shares during the period. Squarepoint Ops LLC acquired a new stake in Intrepid Potash in the second quarter valued at approximately $303,000. Barclays PLC grew its position in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 861 shares during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on IPI. UBS Group boosted their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report 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.