Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 14,736 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 14,736 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total value of $378,273.12. Following the sale, the insider now directly owns 1,212,823 shares in the company, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Price Performance

NYSE:IPI opened at $26.12 on Friday. The firm has a market capitalization of $345.50 million, a price-to-earnings ratio of -7.80 and a beta of 2.23. The business has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $24.85. Intrepid Potash, Inc. has a 1 year low of $18.32 and a 1 year high of $29.75.

Analyst Upgrades and Downgrades

IPI has been the topic of several research reports. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, January 28th.

Institutional Trading of Intrepid Potash

A number of institutional investors have recently bought and sold shares of IPI. Pinnacle Associates Ltd. bought a new position in Intrepid Potash during the third quarter valued at $3,100,000. JPMorgan Chase & Co. boosted its stake in shares of Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock worth $3,336,000 after purchasing an additional 129,722 shares during the period. Renaissance Technologies LLC grew its holdings in Intrepid Potash by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock valued at $2,452,000 after purchasing an additional 58,630 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Intrepid Potash in the 4th quarter worth about $1,269,000. Finally, The Manufacturers Life Insurance Company raised its position in Intrepid Potash by 191.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock worth $1,604,000 after purchasing an additional 48,068 shares during the period. 56.13% of the stock is currently 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.