Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 5,600 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,600 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $27.35, for a total transaction of $153,160.00. Following the completion of the sale, the insider now directly owns 99,063 shares of the company’s stock, valued at approximately $2,709,373.05. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 1.1 %

Shares of Intrepid Potash stock traded down $0.30 during midday trading on Monday, hitting $26.84. The company had a trading volume of 93,125 shares, compared to its average volume of 124,252. The company has a fifty day simple moving average of $25.04 and a 200 day simple moving average of $24.64. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The stock has a market cap of $353.15 million, a price-to-earnings ratio of -8.01 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last released its earnings results 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 firm 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 period last year, the firm earned ($0.53) EPS. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after purchasing an additional 1,732 shares during the period. Glenorchy Capital Ltd grew its stake in Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock valued at $1,493,000 after acquiring an additional 30,425 shares during the period. Barclays PLC raised its position in Intrepid Potash by 282.6% during the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 10,599 shares during the period. Pinnacle Associates Ltd. acquired a new stake in shares of Intrepid Potash in the third quarter valued at about $3,100,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Intrepid Potash during the third quarter worth about $602,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.