Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Robert P. Jornayvaz III Sells 3,557 Shares

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 3,557 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were 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 $3,230,750. The trade was a 2.68 % 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 sales and purchases with the SEC.

Intrepid Potash Stock Down 1.4 %

Intrepid Potash stock opened at $21.79 on Friday. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75. The company has a market cap of $286.82 million, a price-to-earnings ratio of -6.50 and a beta of 2.21. The firm’s fifty day moving average is $25.75 and its 200 day moving average is $24.48.

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 business 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 in the previous year, the business posted ($0.53) EPS. On average, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

A number of institutional investors and hedge funds have recently modified their holdings of IPI. Pinnacle Associates Ltd. purchased a new stake in Intrepid Potash during the 3rd quarter valued at $3,100,000. First Eagle Investment Management LLC boosted its stake 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 period. Cubist Systematic Strategies LLC bought a new position in Intrepid Potash during the second quarter valued at $979,000. Glenorchy Capital Ltd raised its stake 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 valued at $1,493,000 after acquiring an additional 30,425 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Intrepid Potash by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,538 shares of the basic materials company’s stock worth $17,281,000 after acquiring an additional 26,696 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group raised their price target on 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.