Robert P. Jornayvaz III Sells 3,557 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now owns 129,230 shares of the company’s stock, valued at approximately $3,230,750. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

NYSE:IPI opened at $21.79 on Friday. The firm has a market capitalization of $286.82 million, a price-to-earnings ratio of -6.50 and a beta of 2.21. The business has a fifty day moving average price of $25.75 and a 200-day moving average price of $24.48. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $29.75.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com upgraded 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 shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th.

Hedge Funds Weigh In On Intrepid Potash

A number of hedge funds have recently modified their holdings of IPI. First Eagle Investment Management LLC raised its position in shares of Intrepid Potash by 25.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after purchasing an additional 121,100 shares during the period. Glenorchy Capital Ltd raised its holdings in Intrepid Potash by 95.7% during the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after acquiring an additional 30,425 shares during the period. Pinnacle Associates Ltd. purchased a new position in shares of Intrepid Potash in the third quarter valued at about $3,100,000. The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash in the third quarter worth about $602,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Intrepid Potash in the second quarter worth about $979,000. 56.13% of the stock is currently owned by 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.