Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 8,984 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total transaction of $274,551.04. Following the completion of the transaction, the insider now directly owns 1,105,545 shares in the company, valued at $33,785,455.20. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 2.0 %

IPI stock opened at $29.39 on Friday. The company’s 50 day moving average is $26.76 and its 200 day moving average is $25.51. The stock has a market cap of $388.67 million, a price-to-earnings ratio of -8.77 and a beta of 2.18. Intrepid Potash, Inc. has a 1-year low of $18.83 and a 1-year high of $31.29.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $55.80 million for the quarter, compared to analysts’ expectations of $50.35 million. During the same quarter last year, the business posted ($0.41) EPS. As a group, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on IPI. StockNews.com cut shares of Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group dropped their target price on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Intrepid Potash during the 4th quarter worth approximately $1,007,000. Two Sigma Investments LP boosted its position in shares of Intrepid Potash by 16.7% during the fourth quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company’s stock valued at $1,665,000 after purchasing an additional 10,894 shares in the last quarter. State of Wyoming purchased a new stake in Intrepid Potash in the fourth quarter worth $46,000. Lazard Asset Management LLC purchased a new stake in Intrepid Potash in the fourth quarter worth $153,000. Finally, Glenorchy Capital Ltd raised its holdings in Intrepid Potash by 1.1% in the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after purchasing an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

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.