Robert P. Jornayvaz III Sells 8,984 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total transaction of $274,551.04. Following the completion of the sale, the insider now directly owns 1,105,545 shares of the company’s stock, valued at approximately $33,785,455.20. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock opened at $29.39 on Friday. Intrepid Potash, Inc. has a 1 year low of $18.83 and a 1 year high of $31.29. The firm has a market cap of $388.67 million, a price-to-earnings ratio of -8.77 and a beta of 2.18. The company has a 50-day moving average of $26.76 and a 200 day moving average of $25.53.

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 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 business had revenue of $55.80 million for the quarter, compared to the consensus estimate of $50.35 million. During the same period in the prior year, the business posted ($0.41) EPS. On average, equities analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th. StockNews.com lowered Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Thursday.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Intrepid Potash during the fourth quarter valued at $38,000. State of Wyoming bought a new position in Intrepid Potash in the 4th quarter worth about $46,000. BNP Paribas Financial Markets purchased a new stake in Intrepid Potash during the 4th quarter valued at about $87,000. Aquatic Capital Management LLC increased its stake in Intrepid Potash by 274.3% during the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in 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 worth $148,000 after buying an additional 830 shares during the last quarter. Hedge funds and other 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.