Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 26,088 Shares of Stock

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

Intrepid Potash Price Performance

IPI stock opened at $29.16 on Thursday. The stock has a market capitalization of $385.60 million, a price-to-earnings ratio of -8.70 and a beta of 2.18. The company has a 50-day moving average of $26.18 and a two-hundred day moving average of $25.22. Intrepid Potash, Inc. has a 52-week low of $18.55 and a 52-week high of $29.75.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The business 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 previous year, the company earned ($0.41) EPS. Equities analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds and other institutional investors have recently modified their holdings of IPI. R Squared Ltd acquired a new position in Intrepid Potash during the 4th quarter valued at $38,000. State of Wyoming bought a new position in shares of Intrepid Potash during the 4th quarter worth about $46,000. BNP Paribas Financial Markets acquired a new position in shares of Intrepid Potash during the fourth quarter valued at about $87,000. Aquatic Capital Management LLC raised its position in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after buying an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after buying an additional 830 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their target price on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research report on Tuesday, March 4th.

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.