Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $378,273.12 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 14,736 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Up 1.6 %

NYSE IPI traded up $0.42 during trading hours on Thursday, hitting $26.12. 95,613 shares of the stock were exchanged, compared to its average volume of 123,930. The company has a market cap of $345.46 million, a price-to-earnings ratio of -7.83 and a beta of 2.23. Intrepid Potash, Inc. has a 12-month low of $18.32 and a 12-month high of $29.75. The stock has a 50-day moving average of $24.91 and a 200 day moving average of $24.84.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IPI. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group boosted their price objective on Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, January 28th.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Intrepid Potash in the fourth quarter valued at $38,000. State of Wyoming purchased a new position in Intrepid Potash during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new position in Intrepid Potash during the fourth quarter worth about $87,000. Aquatic Capital Management LLC raised its position in Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 830 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

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.