Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 8,984 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the completion of the transaction, the insider now owns 1,105,545 shares of the company’s stock, valued at $33,785,455.20. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

IPI traded down $0.60 on Friday, reaching $29.39. The company’s stock had a trading volume of 201,463 shares, compared to its average volume of 102,244. Intrepid Potash, Inc. has a 1 year low of $18.83 and a 1 year high of $31.29. The business’s 50 day moving average is $26.71 and its 200 day moving average is $25.46. The stock has a market cap of $388.67 million, a price-to-earnings ratio of -8.77 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the prior year, the company earned ($0.41) earnings per share. As a group, research analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th. StockNews.com downgraded Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday.

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently modified their holdings of IPI. JPMorgan Chase & Co. increased its holdings in Intrepid Potash by 577.1% in the fourth quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock valued at $3,336,000 after buying an additional 129,722 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Intrepid Potash by 110.1% in the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock worth $2,452,000 after acquiring an additional 58,630 shares in the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Intrepid Potash in the 4th quarter valued at approximately $1,269,000. The Manufacturers Life Insurance Company raised its position in shares of Intrepid Potash by 191.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock valued at $1,604,000 after acquiring an additional 48,068 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Intrepid Potash during the fourth quarter worth $1,028,000. Institutional investors own 56.13% of the company’s stock.

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.