Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $4,006,966.56 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.12, for a total value of $4,006,966.56. Following the transaction, the insider now directly owns 1,285,000 shares in the company, valued at $32,279,200. This trade represents a 11.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 has a 50-day simple moving average of $25.70 and a 200 day simple moving average of $24.45. The company has a market capitalization of $286.82 million, a PE ratio of -6.50 and a beta of 2.21.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25). The company had revenue of $57.55 million during 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 period last year, the company earned ($0.53) earnings per share. As a group, sell-side analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds have recently bought and sold shares of the company. Pinnacle Associates Ltd. acquired a new position in shares of Intrepid Potash in the 3rd quarter valued at $3,100,000. First Eagle Investment Management LLC grew its stake in Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company’s stock valued at $14,123,000 after acquiring an additional 121,100 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Intrepid Potash in the second quarter worth about $979,000. Glenorchy Capital Ltd increased its holdings in shares of Intrepid Potash by 95.7% in the third quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after acquiring an additional 30,425 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Intrepid Potash by 3.8% during the second 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 during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IPI has been the topic of a number of research reports. 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 increased their price objective 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.

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.