Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 5,454 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 5,454 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $26.24, for a total value of $143,112.96. Following the sale, the insider now directly owns 371,533 shares in the company, valued at approximately $9,749,025.92. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 1.4 %

Shares of NYSE IPI opened at $21.79 on Friday. The company has a market capitalization of $286.82 million, a PE ratio of -6.50 and a beta of 2.21. Intrepid Potash, Inc. has a twelve month low of $17.52 and a twelve month high of $29.75. The firm has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $24.45.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). The business had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the firm posted ($0.53) earnings per share. As a group, equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in Intrepid Potash by 25.1% during the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock worth $14,123,000 after buying an additional 121,100 shares during the last quarter. Glenorchy Capital Ltd boosted its stake in shares of Intrepid Potash by 95.7% in the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after buying an additional 30,425 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in Intrepid Potash in the 3rd quarter valued at $3,100,000. The Manufacturers Life Insurance Company purchased a new stake in Intrepid Potash during the third quarter worth about $602,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Intrepid Potash in the 2nd quarter worth approximately $979,000. Institutional investors own 56.13% of the company’s stock.

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.