Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $1,484,275.44 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.84, for a total value of $1,484,275.44. Following the completion of the sale, the insider now directly owns 1,227,559 shares in the company, valued at approximately $31,720,124.56. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

NYSE IPI opened at $26.39 on Friday. Intrepid Potash, Inc. has a one year low of $18.32 and a one year high of $29.75. The stock has a 50-day moving average of $24.80 and a 200 day moving average of $24.73. The company has a market capitalization of $349.17 million, a price-to-earnings ratio of -7.88 and a beta of 2.23.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, January 28th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the business. R Squared Ltd bought a new stake in Intrepid Potash in the 4th quarter worth about $38,000. State of Wyoming bought a new stake in Intrepid Potash in the 4th quarter worth about $46,000. BNP Paribas Financial Markets bought a new stake in Intrepid Potash in the 4th quarter worth about $87,000. Aquatic Capital Management LLC increased its holdings in 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 purchased a new position in Intrepid Potash in the third quarter worth about $142,000. 56.13% of the stock is currently owned by institutional investors.

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.