Robert P. Jornayvaz III Sells 47,429 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,164,794 shares of the company’s stock, valued at $30,913,632.76. This trade represents a 3.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded down $0.25 on Tuesday, hitting $28.94. The company had a trading volume of 139,072 shares, compared to its average volume of 143,687. The firm has a market capitalization of $382.69 million, a P/E ratio of -8.64 and a beta of 2.18. Intrepid Potash, Inc. has a twelve month low of $18.55 and a twelve month high of $29.75. The stock has a 50-day moving average of $25.94 and a 200-day moving average of $25.16.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data 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 business had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same period in the prior year, the firm earned ($0.41) EPS. Equities analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

A number of institutional investors have recently made changes to their positions in IPI. Empowered Funds LLC lifted its position in shares of Intrepid Potash by 5.2% in the third quarter. Empowered Funds LLC now owns 53,773 shares of the basic materials company’s stock worth $1,291,000 after purchasing an additional 2,680 shares in the last quarter. Quest Partners LLC lifted its position in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Intrepid Potash in the third quarter worth $602,000. State Street Corp lifted its position in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after purchasing an additional 1,402 shares in the last quarter. Finally, Barclays PLC raised its position in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 10,599 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price target on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a 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.