Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 27,484 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $26.78, for a total transaction of $736,021.52. Following the completion of the sale, the insider now owns 56,987 shares of the company’s stock, valued at $1,526,111.86. This trade represents a 32.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 3.0 %

Shares of IPI opened at $26.30 on Friday. The company has a 50-day simple moving average of $25.01 and a 200-day simple moving average of $24.70. The company has a market capitalization of $346.11 million, a PE ratio of -7.85 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 quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The company had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $42.57 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 prior year, the business earned ($0.53) EPS. On average, research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Intrepid Potash

A number of large investors have recently made changes to their positions in IPI. R Squared Ltd purchased a new position in shares of Intrepid Potash in the 4th quarter valued at about $38,000. SG Americas Securities LLC purchased a new position in Intrepid Potash during the 3rd quarter valued at about $142,000. Quest Partners LLC increased its holdings in Intrepid Potash by 24,863.2% during the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 9,448 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Intrepid Potash during the 2nd quarter valued at about $303,000. Finally, Barclays PLC increased its holdings in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IPI shares. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group raised their target price on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday.

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.