Robert P. Jornayvaz III Sells 8,984 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the completion of the transaction, the insider now owns 1,105,545 shares in the company, valued at $33,785,455.20. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of IPI stock traded down $0.60 during trading on Friday, reaching $29.39. The company’s stock had a trading volume of 201,463 shares, compared to its average volume of 102,244. Intrepid Potash, Inc. has a 1-year low of $18.83 and a 1-year high of $31.29. The company has a market capitalization of $388.67 million, a price-to-earnings ratio of -8.77 and a beta of 2.18. The stock’s 50-day moving average price is $26.71 and its 200 day moving average price is $25.46.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 million. During the same period last year, the business posted ($0.41) EPS. On average, sell-side analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in shares of Intrepid Potash by 0.3% during the fourth quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock worth $4,074,000 after acquiring an additional 577 shares during the period. Glenorchy Capital Ltd raised its position in Intrepid Potash by 1.1% in the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock worth $1,379,000 after acquiring an additional 714 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Intrepid Potash by 14.0% during 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 period. Goehring & Rozencwajg Associates LLC grew its position in Intrepid Potash by 0.6% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock worth $4,803,000 after buying an additional 1,272 shares during the period. Finally, State Street Corp grew its holdings in shares of Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the period. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IPI. UBS Group lowered their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th. StockNews.com lowered Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Thursday.

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.