Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 5,454 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of Intrepid Potash stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $26.24, for a total value of $143,112.96. Following the completion of the sale, the insider now owns 371,533 shares in the company, valued at approximately $9,749,025.92. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Performance

IPI opened at $22.10 on Friday. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $29.75. The company has a market cap of $290.90 million, a price-to-earnings ratio of -6.60 and a beta of 2.21. The business’s fifty day moving average is $25.75 and its two-hundred day moving average is $24.48.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) 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 business had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same period in the previous year, the company posted ($0.53) earnings per share. On average, analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group raised their target price on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Trading of Intrepid Potash

Several large investors have recently modified their holdings of IPI. First Eagle Investment Management LLC raised its position in shares of Intrepid Potash by 25.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock worth $14,123,000 after purchasing an additional 121,100 shares during the last quarter. Glenorchy Capital Ltd increased its position in Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after buying an additional 30,425 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Intrepid Potash in the third quarter worth $3,100,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intrepid Potash in the third quarter valued at $602,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Intrepid Potash during the second quarter valued at $979,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.