Robert P. Jornayvaz III Sells 14,736 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 14,736 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total transaction of $378,273.12. Following the transaction, the insider now directly owns 1,212,823 shares of the company’s stock, valued at approximately $31,133,166.41. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE IPI opened at $26.07 on Friday. The company’s fifty day moving average is $25.07 and its two-hundred day moving average is $24.90. Intrepid Potash, Inc. has a 52-week low of $18.32 and a 52-week high of $29.75. The firm has a market capitalization of $344.83 million, a price-to-earnings ratio of -7.78 and a beta of 2.23.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IPI. UBS Group boosted their price objective on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. acquired a new position in Intrepid Potash in the 3rd quarter valued at approximately $3,100,000. JPMorgan Chase & Co. increased its position in shares of Intrepid Potash by 577.1% during the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock valued at $3,336,000 after purchasing an additional 129,722 shares during the period. Renaissance Technologies LLC raised its stake in shares of Intrepid Potash by 110.1% in the fourth quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock valued at $2,452,000 after purchasing an additional 58,630 shares in the last quarter. Peapod Lane Capital LLC bought a new position in Intrepid Potash in the fourth quarter worth $1,269,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Intrepid Potash by 191.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock worth $1,604,000 after buying an additional 48,068 shares in the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

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.