Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 15,476 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.58, for a total value of $473,256.08. Following the completion of the transaction, the insider now directly owns 1,123,230 shares of the company’s stock, valued at approximately $34,348,373.40. This represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 0.8 %

Intrepid Potash stock traded down $0.25 during trading on Tuesday, hitting $30.07. The stock had a trading volume of 405,121 shares, compared to its average volume of 98,674. The stock’s 50 day moving average is $26.58 and its two-hundred day moving average is $25.40. Intrepid Potash, Inc. has a 1 year low of $18.59 and a 1 year high of $30.88. The stock has a market cap of $397.71 million, a price-to-earnings ratio of -8.98 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $55.80 million for the quarter, compared to analysts’ expectations of $50.35 million. During the same period in the prior year, the company earned ($0.41) EPS. As a group, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPI. American Century Companies Inc. raised its position in shares of Intrepid Potash by 0.3% in the fourth quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock valued at $4,074,000 after purchasing an additional 577 shares during the period. Glenorchy Capital Ltd grew its stake in Intrepid Potash by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after buying an additional 714 shares in the last quarter. SG Americas Securities LLC raised its holdings in 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 valued at $148,000 after acquiring an additional 830 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in shares of Intrepid Potash by 0.6% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after acquiring an additional 1,272 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the period. Institutional investors 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.