Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $1,258,765.66 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the sale, the insider now owns 1,164,794 shares of the company’s stock, valued at approximately $30,913,632.76. The trade was a 3.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 0.5 %

Shares of NYSE IPI opened at $29.03 on Friday. Intrepid Potash, Inc. has a 12-month low of $18.55 and a 12-month high of $29.75. The company has a market cap of $383.98 million, a price-to-earnings ratio of -8.67 and a beta of 2.18. The stock’s 50 day simple moving average is $26.30 and its 200 day simple moving average is $25.25.

Intrepid Potash (NYSE:IPI) last posted its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $55.80 million during 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 previous year, the business posted ($0.41) earnings per share. As a group, equities analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Intrepid Potash

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its position in Intrepid Potash by 0.3% in the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock worth $4,074,000 after purchasing an additional 577 shares during the last quarter. Glenorchy Capital Ltd boosted its position in shares of Intrepid Potash by 1.1% during the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after buying an additional 714 shares during the period. SG Americas Securities LLC grew its holdings in Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after buying an additional 830 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its position in Intrepid Potash by 0.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock valued at $4,803,000 after acquiring an additional 1,272 shares during the period. Finally, State Street Corp raised its stake in Intrepid Potash by 0.6% during the 3rd 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. 56.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.