Robert P. Jornayvaz III Sells 57,441 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.84, for a total value of $1,484,275.44. Following the sale, the insider now directly owns 1,227,559 shares in the company, valued at $31,720,124.56. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Trading Up 2.9 %

Shares of IPI opened at $26.65 on Wednesday. The firm has a market cap of $352.51 million, a PE ratio of -7.95 and a beta of 2.23. Intrepid Potash, Inc. has a 12 month low of $18.32 and a 12 month high of $29.75. The stock has a fifty day moving average price of $24.73 and a 200-day moving average price of $24.69.

Wall Street Analyst Weigh In

IPI has been the topic of a number of recent research reports. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group lifted their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in IPI. R Squared Ltd acquired a new position in shares of Intrepid Potash during the fourth quarter valued at about $38,000. State of Wyoming purchased a new stake in Intrepid Potash during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new position in Intrepid Potash during the 4th quarter valued at approximately $87,000. Aquatic Capital Management LLC raised its holdings in shares of Intrepid Potash by 274.3% in the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after buying an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Intrepid Potash during the third quarter worth $142,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.