Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $88,925.00 in Stock

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

Intrepid Potash Price Performance

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

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25). The firm had revenue of $57.55 million for 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 in the prior year, the firm posted ($0.53) earnings per share. As a group, equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently bought and sold shares of IPI. Dimensional Fund Advisors LP grew its holdings in Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after acquiring an additional 26,696 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Intrepid Potash by 25.1% during the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock worth $14,123,000 after purchasing an additional 121,100 shares during the period. Geode Capital Management LLC grew its stake in shares of Intrepid Potash by 0.8% during the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after purchasing an additional 1,732 shares during the period. State Street Corp increased its holdings 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. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Intrepid Potash by 11.0% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 193,824 shares of the basic materials company’s stock valued at $4,541,000 after buying an additional 19,200 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IPI shares. UBS Group increased their price target on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note 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.