Robert P. Jornayvaz III Sells 192,573 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 192,573 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $25.08, for a total transaction of $4,829,730.84. Following the transaction, the insider now owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

NYSE:IPI opened at $21.79 on Friday. The firm has a 50-day moving average of $25.75 and a 200-day moving average of $24.48. The company has a market cap of $286.82 million, a PE ratio of -6.50 and a beta of 2.21. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $29.75.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). The business had revenue of $57.55 million for the quarter, compared to the consensus estimate 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 firm earned ($0.53) earnings per share. On average, equities research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently made changes to their positions in IPI. Rhumbline Advisers grew its position in Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares in the last quarter. State Street Corp grew its position in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after purchasing an additional 1,402 shares in the last quarter. Geode Capital Management LLC grew its position in Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after purchasing an additional 1,732 shares in the last quarter. JPMorgan Chase & Co. grew its position in Intrepid Potash by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Intrepid Potash by 5.2% in the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after purchasing an additional 2,306 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IPI. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th.

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.