Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 159,513 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.12, for a total value of $4,006,966.56. Following the transaction, the insider now directly owns 1,285,000 shares in the company, valued at $32,279,200. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 1.8 %

IPI opened at $22.10 on Friday. Intrepid Potash, Inc. has a 52 week low of $17.52 and a 52 week high of $29.75. The business has a fifty day simple moving average of $25.75 and a 200-day simple moving average of $24.48. The firm has a market cap of $290.90 million, a P/E ratio of -6.60 and a beta of 2.21.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Intrepid Potash during the 3rd quarter worth about $142,000. Quest Partners LLC grew its position in shares of Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after buying an additional 9,448 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Intrepid Potash during the second quarter worth approximately $303,000. Barclays PLC raised its holdings in Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares during the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.