Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $661,589.31 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 24,567 shares of Intrepid Potash stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $26.93, for a total transaction of $661,589.31. Following the completion of the transaction, the insider now owns 104,663 shares of the company’s stock, valued at $2,818,574.59. The trade was a 19.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE IPI opened at $27.22 on Friday. The company’s 50 day simple moving average is $25.04 and its two-hundred day simple moving average is $24.61. Intrepid Potash, Inc. has a 1 year low of $17.52 and a 1 year high of $29.75. The stock has a market capitalization of $358.18 million, a PE ratio of -8.12 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (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 net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the prior year, the business posted ($0.53) EPS. On average, research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new stake in Intrepid Potash during the fourth quarter valued at approximately $38,000. SG Americas Securities LLC raised its position in shares of Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after buying an additional 830 shares in the last quarter. JPMorgan Chase & Co. grew its position in Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 2,242 shares in the last quarter. Barclays PLC increased its stake in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after acquiring an additional 1,732 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.