Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $748,203.84 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $28.68, for a total value of $748,203.84. Following the sale, the insider now owns 1,138,706 shares in the company, valued at approximately $32,658,088.08. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE:IPI opened at $29.03 on Friday. The firm has a market cap of $383.98 million, a PE ratio of -8.67 and a beta of 2.18. The firm has a 50 day simple moving average of $26.30 and a 200-day simple moving average of $25.25. Intrepid Potash, Inc. has a 1-year low of $18.55 and a 1-year high of $29.75.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The firm had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their price objective on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Intrepid Potash in the 4th quarter worth about $38,000. State of Wyoming purchased a new position in shares of Intrepid Potash during the 4th quarter worth about $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Intrepid Potash in the fourth quarter worth approximately $87,000. Aquatic Capital Management LLC grew its holdings in Intrepid Potash by 274.3% in the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 4,114 shares during the period. Finally, SG Americas Securities LLC raised its stake in Intrepid Potash by 14.0% during the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 830 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.