Robert P. Jornayvaz III Sells 15,476 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of Intrepid Potash stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the transaction, the insider now owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. The trade was a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of IPI stock opened at $30.28 on Thursday. The company has a market capitalization of $400.43 million, a P/E ratio of -9.04 and a beta of 2.18. Intrepid Potash, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $31.29. The stock has a 50 day moving average price of $26.64 and a two-hundred day moving average price of $25.43.

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

Analyst Upgrades and Downgrades

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 note on Tuesday, March 4th.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC increased its holdings in Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Intrepid Potash during the third quarter valued at approximately $602,000. State Street Corp raised its holdings in shares of Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after acquiring an additional 1,402 shares in the last quarter. Barclays PLC raised its holdings in shares of Intrepid Potash by 282.6% during 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 in the last quarter. Finally, Geode Capital Management LLC lifted 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 worth $5,560,000 after acquiring an additional 1,732 shares during the period. 56.13% of the stock is owned by institutional investors.

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.