Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $143,112.96 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $26.24, for a total transaction of $143,112.96. Following the completion of the transaction, the insider now directly owns 371,533 shares of the company’s stock, valued at $9,749,025.92. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 1.4 %

NYSE:IPI opened at $21.79 on Friday. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The firm has a market capitalization of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21. The stock’s fifty day simple moving average is $25.70 and its 200-day simple moving average is $24.45.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same period in the prior year, the business earned ($0.53) earnings per share. As a group, equities research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Intrepid Potash

Several hedge funds have recently bought and sold shares of IPI. JPMorgan Chase & Co. boosted its stake in Intrepid Potash by 11.1% in the 3rd 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 during the period. Barclays PLC increased its holdings in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after buying an additional 10,599 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intrepid Potash by 0.8% in the 3rd 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 period. State Street Corp lifted its position in shares of 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 buying an additional 1,402 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Intrepid Potash during the 3rd quarter valued at $602,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.