Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 5,600 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,600 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $27.35, for a total value of $153,160.00. Following the sale, the insider now directly owns 99,063 shares in the company, valued at $2,709,373.05. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Performance

Intrepid Potash stock opened at $26.84 on Tuesday. The company has a market capitalization of $353.15 million, a P/E ratio of -8.01 and a beta of 2.23. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The stock has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $24.65.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The firm had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $42.57 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 firm posted ($0.53) EPS. As a group, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Intrepid Potash

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after buying an additional 830 shares during the last quarter. 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 during the last quarter. R Squared Ltd acquired a new stake in Intrepid Potash during the 4th quarter worth approximately $38,000. Geode Capital Management LLC grew its stake in shares of Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 2,242 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

IPI has been the topic of several recent analyst reports. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group increased their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th.

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.