Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 192,573 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 192,573 shares of Intrepid Potash stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $25.08, for a total value of $4,829,730.84. Following the completion of the transaction, the insider now owns 178,860 shares of the company’s stock, valued at approximately $4,485,808.80. The trade was a 51.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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

IPI opened at $22.10 on Friday. The firm has a 50 day simple moving average of $25.75 and a 200 day simple moving average of $24.48. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The company has a market cap of $290.90 million, a price-to-earnings ratio of -6.60 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of IPI. SG Americas Securities LLC bought a new stake in Intrepid Potash in the third quarter valued at approximately $142,000. Quest Partners LLC increased its holdings 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 acquiring an additional 9,448 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Intrepid Potash during the second quarter worth about $303,000. Barclays PLC lifted its holdings in shares of 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares in the last quarter. 56.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IPI has been the subject 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 increased their price objective on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th.

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.