Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $473,256.08 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the sale, the insider now directly owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

NYSE:IPI opened at $30.07 on Wednesday. The firm has a market capitalization of $397.71 million, a price-to-earnings ratio of -8.98 and a beta of 2.18. The business has a 50 day simple moving average of $26.58 and a 200-day simple moving average of $25.40. Intrepid Potash, Inc. has a 1 year low of $18.59 and a 1 year high of $31.29.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 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 business earned ($0.41) earnings per share. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

A number of large investors have recently made changes to their positions in IPI. Quest Partners LLC raised its position in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 9,448 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash during the third quarter valued at approximately $602,000. State Street Corp raised its holdings in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after buying an additional 1,402 shares during the period. Barclays PLC lifted its stake in shares of Intrepid Potash by 282.6% during the 3rd 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 last quarter. Finally, Geode Capital Management LLC lifted 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 acquiring an additional 1,732 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, UBS Group reduced their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a report on Tuesday, March 4th.

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.