Robert P. Jornayvaz III Sells 30,000 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $29.00, for a total transaction of $870,000.00. Following the completion of the transaction, the insider now owns 1,444,513 shares in the company, valued at approximately $41,890,877. This trade represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE:IPI traded down $0.20 during trading hours on Thursday, reaching $22.30. The company had a trading volume of 32,906 shares, compared to its average volume of 93,614. The firm has a market cap of $293.53 million, a PE ratio of -6.66 and a beta of 2.21. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The business’s 50 day moving average price is $25.80 and its 200-day moving average price is $24.49.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (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 analysts’ expectations 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 company posted ($0.53) earnings per share. On average, analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in 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 worth $1,213,000 after purchasing an additional 6,632 shares during the period. Rhumbline Advisers increased its position 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 valued at $422,000 after buying an additional 861 shares in the last quarter. Acuitas Investments LLC raised its stake in shares of Intrepid Potash by 21.0% during the 2nd quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock worth $1,079,000 after buying an additional 8,004 shares during the period. American Century Companies Inc. lifted its position in shares of Intrepid Potash by 8.8% during 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 buying an additional 14,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $17,281,000 after buying an additional 26,696 shares in the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group increased their price target on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th.

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.