Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 159,513 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the completion of the sale, the insider now directly owns 1,285,000 shares in the company, valued at $32,279,200. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 1.4 %

Intrepid Potash stock opened at $21.79 on Friday. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The company has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $24.45. The company has a market cap of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The business had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the prior year, the company earned ($0.53) earnings per share. On average, equities research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on IPI. UBS Group lifted their price target on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Intrepid Potash by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,775 shares of the basic materials company’s stock valued at $1,213,000 after buying an additional 6,632 shares during the last quarter. Rhumbline Advisers raised its position in Intrepid Potash by 5.0% during the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares in the last quarter. Acuitas Investments LLC lifted its stake in Intrepid Potash by 21.0% in the second quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock valued at $1,079,000 after acquiring an additional 8,004 shares during the last quarter. American Century Companies Inc. grew its position in shares of Intrepid Potash by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 184,337 shares of the basic materials company’s stock valued at $4,319,000 after acquiring an additional 14,968 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Intrepid Potash by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after purchasing an additional 26,696 shares during the last quarter. 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.