Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $4,829,730.84 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 192,573 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 178,860 shares in the company, valued at approximately $4,485,808.80. The trade was a 51.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Stock Performance

Shares of IPI opened at $21.79 on Friday. The stock has a 50-day simple moving average of $25.70 and a 200-day simple moving average of $24.45. Intrepid Potash, Inc. has a 1 year low of $17.52 and a 1 year high of $29.75. The stock has a market capitalization of $286.82 million, a PE ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data 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 during 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 period in the prior year, the company posted ($0.53) earnings per share. Analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Intrepid Potash by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 861 shares during the last quarter. State Street Corp increased its stake in Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after purchasing an additional 1,402 shares during the last quarter. Geode Capital Management LLC increased its stake in Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Intrepid Potash by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Intrepid Potash by 5.2% during the 2nd quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 2,306 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IPI. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note 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.