Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 30,000 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $29.00, for a total transaction of $870,000.00. Following the transaction, the insider now directly owns 1,444,513 shares of the company’s stock, valued at $41,890,877. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 1.8 %

Shares of Intrepid Potash stock opened at $22.10 on Friday. The company has a 50-day moving average of $25.75 and a two-hundred day moving average of $24.48. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The stock has a market cap of $290.90 million, a PE ratio of -6.60 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last released 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 during the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the previous year, the business earned ($0.53) earnings per share. On average, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its position in Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares during the last quarter. State Street Corp raised its position in shares of Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after purchasing an additional 1,402 shares during the last quarter. Geode Capital Management LLC lifted its stake in Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after buying an additional 1,732 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Intrepid Potash by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock valued at $539,000 after buying an additional 2,242 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Intrepid Potash by 5.2% during the second quarter. AQR Capital Management LLC now owns 46,364 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 2,306 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IPI shares. UBS Group increased their target price on Intrepid Potash from $18.00 to $19.00 and gave the stock 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 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.