Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $88,925.00 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 3,557 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $25.00, for a total transaction of $88,925.00. Following the transaction, the insider now directly owns 129,230 shares of the company’s stock, valued at approximately $3,230,750. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 1.4 %

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

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data 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 the consensus estimate 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 quarter in the prior year, the firm posted ($0.53) earnings per share. On average, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Intrepid Potash

Several institutional investors have recently made changes to their positions in IPI. JPMorgan Chase & Co. raised its position in Intrepid Potash by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 2,242 shares in the last quarter. Barclays PLC grew its stake in shares of Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after buying an additional 1,732 shares in the last quarter. State Street Corp lifted its position in shares of Intrepid Potash by 0.6% during the 3rd 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. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash during the 3rd quarter worth approximately $602,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.