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

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $25.09, for a total transaction of $250,900.00. Following the transaction, the insider now directly owns 132,787 shares in the company, valued at approximately $3,331,625.83. This represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 1.8 %

IPI opened at $22.10 on Friday. The firm has a market capitalization of $290.90 million, a P/E ratio of -6.60 and a beta of 2.21. The firm’s 50 day moving average is $25.75 and its 200-day moving average is $24.48. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) 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 analysts’ expectations 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 last year, the firm earned ($0.53) EPS. Equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IPI shares. UBS Group lifted their price objective on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IPI. Pinnacle Associates Ltd. purchased a new stake in Intrepid Potash during the 3rd quarter worth approximately $3,100,000. First Eagle Investment Management LLC grew its position 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 buying an additional 121,100 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Intrepid Potash in the second quarter worth $979,000. Glenorchy Capital Ltd raised its holdings in Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after acquiring an additional 30,425 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $17,281,000 after acquiring an additional 26,696 shares during the last quarter. Institutional investors and hedge funds 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.