Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $1,484,275.44 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of Intrepid Potash stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.84, for a total value of $1,484,275.44. Following the sale, the insider now directly owns 1,227,559 shares of the company’s stock, valued at $31,720,124.56. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Up 2.9 %

NYSE:IPI traded up $0.76 on Tuesday, reaching $26.65. The company’s stock had a trading volume of 98,499 shares, compared to its average volume of 125,713. Intrepid Potash, Inc. has a 12-month low of $18.32 and a 12-month high of $29.75. The stock has a 50 day moving average price of $24.73 and a 200 day moving average price of $24.69. The firm has a market cap of $352.51 million, a price-to-earnings ratio of -7.95 and a beta of 2.23.

Institutional Trading of Intrepid Potash

Institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Intrepid Potash in the 4th quarter valued at approximately $38,000. State of Wyoming purchased a new stake in Intrepid Potash in the fourth quarter valued at approximately $46,000. BNP Paribas Financial Markets acquired a new position in Intrepid Potash during the fourth quarter worth $87,000. Aquatic Capital Management LLC boosted its position in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after buying an additional 4,114 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash in the 3rd quarter valued at $142,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IPI shares. UBS Group lifted their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, January 28th. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

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.