Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $153,160.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,600 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $27.35, for a total value of $153,160.00. Following the transaction, the insider now directly owns 99,063 shares in the company, valued at approximately $2,709,373.05. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Performance

IPI stock opened at $27.06 on Thursday. The business has a 50-day simple moving average of $25.04 and a two-hundred day simple moving average of $24.68. The company has a market capitalization of $356.04 million, a P/E ratio of -8.08 and a beta of 2.23. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last announced its 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). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. During the same period in the previous year, the firm earned ($0.53) EPS. As a group, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group boosted their price target on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday.

Hedge Funds Weigh In On Intrepid Potash

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in shares of Intrepid Potash during the 4th quarter worth approximately $38,000. SG Americas Securities LLC purchased a new position in Intrepid Potash in the third quarter valued at approximately $142,000. Quest Partners LLC grew its holdings in Intrepid Potash by 24,863.2% during the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the period. Squarepoint Ops LLC purchased a new stake in Intrepid Potash in the second quarter worth $303,000. Finally, Barclays PLC raised its stake in shares of Intrepid Potash by 282.6% in the third 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 during the period. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.