Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 57,441 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the firm’s 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 completion of the transaction, the insider now directly owns 1,227,559 shares in the company, valued at $31,720,124.56. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Up 0.8 %

IPI stock opened at $26.39 on Friday. Intrepid Potash, Inc. has a twelve month low of $18.32 and a twelve month high of $29.75. The stock has a market cap of $349.17 million, a P/E ratio of -7.88 and a beta of 2.23. The business’s 50-day moving average price is $24.80 and its 200-day moving average price is $24.73.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Intrepid Potash by 0.8% during 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 buying an additional 1,732 shares in the last quarter. Barclays PLC raised its stake in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares during the period. 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 purchasing an additional 1,402 shares during the period. Pinnacle Associates Ltd. bought a new stake in Intrepid Potash during the 3rd quarter valued at approximately $3,100,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Intrepid Potash during the 3rd quarter valued at approximately $602,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.