Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 10,000 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $25.09, for a total transaction of $250,900.00. Following the completion of the transaction, the insider now owns 132,787 shares in the company, valued at approximately $3,331,625.83. The trade was a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Intrepid Potash stock 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 50-day simple moving average of $25.75 and a 200-day simple moving average of $24.48. The firm 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 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). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter last year, the company posted ($0.53) EPS. As a group, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Intrepid Potash

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Intrepid Potash during the 3rd quarter worth $142,000. Quest Partners LLC lifted its holdings in Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares during the period. Squarepoint Ops LLC bought a new position in Intrepid Potash in the 2nd quarter valued at about $303,000. Barclays PLC increased its stake in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after buying an additional 10,599 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after buying an additional 861 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

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.