Robert P. Jornayvaz III Sells 10,000 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $25.09, for a total value of $250,900.00. Following the sale, the insider now directly owns 132,787 shares in the company, valued at $3,331,625.83. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major 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

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

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results 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). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. During the same period in the previous year, the business posted ($0.53) EPS. On average, equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPI. SG Americas Securities LLC purchased a new stake in shares of Intrepid Potash during the third quarter worth about $142,000. Quest Partners LLC boosted its position in 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 acquiring an additional 9,448 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Intrepid Potash in the 2nd quarter worth approximately $303,000. Barclays PLC raised its holdings in Intrepid Potash by 282.6% in the 3rd 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 during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Intrepid Potash by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares during the period. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IPI shares. UBS Group boosted their target price 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 upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.