Robert P. Jornayvaz III Sells 5,454 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $26.24, for a total transaction of $143,112.96. Following the completion of the transaction, the insider now directly owns 371,533 shares in the company, valued at approximately $9,749,025.92. The trade was a 1.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 1.4 %

IPI stock opened at $21.79 on Friday. The stock has a market cap of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21. The stock’s fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $24.48. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.57 million. During the same period last year, the firm posted ($0.53) earnings per share. As a group, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

IPI has been the subject of several recent research reports. UBS Group upped their price target on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Hedge Funds Weigh In On Intrepid Potash

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Intrepid Potash by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after acquiring an additional 2,242 shares during the last quarter. Barclays PLC lifted its stake in shares of Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after buying an additional 10,599 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $5,560,000 after buying an additional 1,732 shares during the period. State Street Corp grew its stake in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Intrepid Potash during the 3rd quarter valued at $602,000. Hedge funds and other institutional investors 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.