Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 24,567 Shares

Intrepid Potash, Inc. (NYSE:IPIGet Free Report) major shareholder Robert P. Jornayvaz III sold 24,567 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $26.93, for a total transaction of $661,589.31. Following the sale, the insider now directly owns 104,663 shares in the company, valued at approximately $2,818,574.59. The trade was a 19.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Stock Up 1.4 %

Shares of NYSE:IPI opened at $27.51 on Thursday. The stock has a market capitalization of $361.99 million, a PE ratio of -8.21 and a beta of 2.23. The firm’s 50 day moving average price is $25.03 and its 200-day moving average price is $24.56. Intrepid Potash, Inc. has a twelve month low of $17.52 and a twelve month high of $29.75.

Intrepid Potash (NYSE:IPIGet Free Report) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $57.55 million during the quarter, compared to the consensus estimate of $42.57 million. During the same quarter in the previous year, the business posted ($0.53) earnings per share. Analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on IPI

Institutional Trading of Intrepid Potash

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Intrepid Potash in the third quarter worth about $142,000. Quest Partners LLC raised its stake 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 worth $228,000 after acquiring an additional 9,448 shares during the period. Squarepoint Ops LLC purchased a new position in Intrepid Potash during the second quarter valued at approximately $303,000. Barclays PLC boosted its position in shares of Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 10,599 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 861 shares in the last quarter. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Intrepid Potash (NYSE:IPI)

Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.