Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $250,900.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 10,000 shares of Intrepid Potash stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $25.09, for a total value of $250,900.00. Following the transaction, the insider now directly owns 132,787 shares in the company, valued at approximately $3,331,625.83. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 1.4 %

NYSE:IPI opened at $21.79 on Friday. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The stock’s 50 day simple moving average is $25.70 and its 200-day simple moving average is $24.45. The firm has a market cap of $286.82 million, a P/E ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings data 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). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The firm had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same period in the prior year, the firm posted ($0.53) earnings per share. Research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Intrepid Potash by 14.7% during 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 buying an additional 6,632 shares in the last quarter. Rhumbline Advisers raised its position in Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 861 shares in the last quarter. Acuitas Investments LLC lifted its holdings in Intrepid Potash by 21.0% in the second quarter. Acuitas Investments LLC now owns 46,072 shares of the basic materials company’s stock valued at $1,079,000 after acquiring an additional 8,004 shares during the period. American Century Companies Inc. boosted 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 worth $4,319,000 after purchasing an additional 14,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 worth $17,281,000 after purchasing an additional 26,696 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IPI has been the topic of a number of recent research reports. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group upped their target price 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.

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.