Robert P. Jornayvaz III Sells 27,484 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $26.78, for a total transaction of $736,021.52. Following the completion of the transaction, the insider now directly owns 56,987 shares of the company’s stock, valued at $1,526,111.86. This trade represents a 32.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Up 0.1 %

NYSE IPI opened at $27.09 on Friday. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The company has a 50 day moving average of $25.04 and a 200-day moving average of $24.69. The firm has a market cap of $356.52 million, a price-to-earnings ratio of -8.09 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) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same period in the prior year, the firm posted ($0.53) EPS. On average, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IPI shares. UBS Group upped their price objective on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Intrepid Potash by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock valued at $17,281,000 after purchasing an additional 26,696 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Intrepid Potash in the second quarter worth about $979,000. Squarepoint Ops LLC bought a new position in shares of Intrepid Potash in the 2nd quarter valued at about $303,000. AQR Capital Management LLC raised its stake in shares of Intrepid Potash by 5.2% during the second quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 2,306 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Intrepid Potash in the 3rd quarter valued at $142,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.