Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 47,429 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $26.54, for a total value of $1,258,765.66. Following the transaction, the insider now directly owns 1,164,794 shares of the company’s stock, valued at $30,913,632.76. The trade was a 3.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 0.8 %

Shares of Intrepid Potash stock opened at $28.94 on Wednesday. Intrepid Potash, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $29.75. The business’s fifty day moving average is $26.06 and its two-hundred day moving average is $25.19. The firm has a market cap of $382.69 million, a PE ratio of -8.64 and a beta of 2.18.

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

Hedge Funds Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its holdings in shares of Intrepid Potash by 4.5% in the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company’s stock valued at $14,423,000 after purchasing an additional 28,500 shares during the last quarter. Azarias Capital Management L.P. boosted its holdings in Intrepid Potash by 7.4% in the fourth quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company’s stock valued at $14,412,000 after acquiring an additional 45,446 shares during the last quarter. Geode Capital Management LLC grew its position in Intrepid Potash by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company’s stock valued at $5,151,000 after acquiring an additional 3,314 shares during the period. State Street Corp increased its stake in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in shares of Intrepid Potash by 0.6% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after purchasing an additional 1,272 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group cut their target price 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.

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.