Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 14,736 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 14,736 shares of Intrepid Potash stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.67, for a total value of $378,273.12. Following the completion of the sale, the insider now owns 1,212,823 shares of the company’s stock, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded up $0.42 during trading on Thursday, hitting $26.12. The stock had a trading volume of 95,613 shares, compared to its average volume of 123,930. The business has a fifty day moving average of $24.91 and a two-hundred day moving average of $24.84. Intrepid Potash, Inc. has a fifty-two week low of $18.32 and a fifty-two week high of $29.75. The firm has a market cap of $345.46 million, a P/E ratio of -7.83 and a beta of 2.23.

Hedge Funds Weigh In On Intrepid Potash

A number of hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intrepid Potash during the 4th quarter worth $38,000. State of Wyoming bought a new stake in Intrepid Potash in the 4th quarter valued at $46,000. BNP Paribas Financial Markets acquired a new position in Intrepid Potash in the fourth quarter worth about $87,000. Aquatic Capital Management LLC boosted its stake in Intrepid Potash by 274.3% in the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after buying an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, January 28th.

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.