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

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $26.24, for a total transaction of $143,112.96. Following the completion of the sale, the insider now owns 371,533 shares of the company’s stock, valued at approximately $9,749,025.92. This trade represents a 1.45 % decrease in their position. 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 shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 0.9 %

Shares of NYSE IPI traded down $0.20 during midday trading on Thursday, hitting $22.30. The stock had a trading volume of 32,906 shares, compared to its average volume of 93,614. The company has a market cap of $293.53 million, a P/E ratio of -6.66 and a beta of 2.21. Intrepid Potash, Inc. has a 52 week low of $17.52 and a 52 week high of $29.75. The business’s 50 day moving average is $25.80 and its 200-day moving average is $24.49.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (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 for the quarter, compared to the consensus estimate of $42.57 million. During the same period in the previous year, the firm earned ($0.53) EPS. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Intrepid Potash

Several hedge funds have recently made changes to their positions in IPI. SG Americas Securities LLC bought a new stake in shares of Intrepid Potash in the 3rd quarter valued at about $142,000. Quest Partners LLC raised its position in shares of 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 acquiring an additional 9,448 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Intrepid Potash during the 2nd quarter worth about $303,000. Barclays PLC boosted 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 worth $344,000 after purchasing an additional 10,599 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Intrepid Potash by 5.0% in 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 in the last quarter. 56.13% of the stock is currently owned by hedge funds and other 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.