Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $274,551.04 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the transaction, the insider now owns 1,105,545 shares of the company’s stock, valued at approximately $33,785,455.20. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 2.0 %

Shares of NYSE IPI opened at $29.39 on Monday. Intrepid Potash, Inc. has a twelve month low of $18.83 and a twelve month high of $31.29. The firm has a market cap of $388.67 million, a PE ratio of -8.77 and a beta of 2.18. The business has a fifty day simple moving average of $26.76 and a two-hundred day simple moving average of $25.54.

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

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in Intrepid Potash during the fourth quarter valued at approximately $1,007,000. Two Sigma Investments LP increased its holdings in shares of Intrepid Potash by 16.7% in the 4th quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company’s stock valued at $1,665,000 after acquiring an additional 10,894 shares during the period. State of Wyoming purchased a new position in shares of Intrepid Potash in the 4th quarter valued at $46,000. Lazard Asset Management LLC bought a new position in shares of Intrepid Potash in the 4th quarter worth $153,000. Finally, Glenorchy Capital Ltd lifted its stake in shares of Intrepid Potash by 1.1% during the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after purchasing an additional 714 shares during the last quarter. Institutional investors own 56.13% of the company’s stock.

Wall Street Analyst Weigh In

IPI has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group decreased their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th.

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.