Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $473,256.08 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the sale, the insider now owns 1,123,230 shares of the company’s stock, valued at approximately $34,348,373.40. This represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 0.6 %

NYSE:IPI opened at $30.07 on Friday. The firm has a 50 day moving average of $26.71 and a 200 day moving average of $25.46. Intrepid Potash, Inc. has a 52 week low of $18.83 and a 52 week high of $31.29. The stock has a market capitalization of $397.73 million, a price-to-earnings ratio of -8.98 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same period in the previous year, the business earned ($0.41) EPS. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Intrepid Potash

A number of large investors have recently modified their holdings of the business. R Squared Ltd purchased a new position in shares of Intrepid Potash in the 4th quarter valued at approximately $38,000. State of Wyoming acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the fourth quarter valued at $87,000. Aquatic Capital Management LLC increased its position in shares of Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 4,114 shares during the period. Finally, SG Americas Securities LLC raised its stake 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 acquiring an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group reduced 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 note on Tuesday, March 4th. StockNews.com downgraded Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Thursday.

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.