Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $748,203.84 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $28.68, for a total transaction of $748,203.84. Following the transaction, the insider now directly owns 1,138,706 shares in the company, valued at $32,658,088.08. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 0.8 %

Intrepid Potash stock opened at $28.94 on Wednesday. The business has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $25.19. Intrepid Potash, Inc. has a 12 month low of $18.55 and a 12 month high of $29.75. The stock has a market cap of $382.69 million, a price-to-earnings ratio of -8.64 and a beta of 2.18.

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

Analysts Set New Price Targets

Separately, UBS Group decreased their price target on shares of 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

A number of hedge funds have recently made changes to their positions in IPI. R Squared Ltd bought a new stake in Intrepid Potash in the fourth quarter valued at about $38,000. State of Wyoming acquired a new stake in Intrepid Potash during the fourth quarter valued at approximately $46,000. BNP Paribas Financial Markets bought a new stake in shares of Intrepid Potash in the 4th quarter valued at approximately $87,000. Aquatic Capital Management LLC raised its holdings in shares of Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after buying an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after buying an additional 830 shares during the period. 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.