Robert P. Jornayvaz III Sells 47,429 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of Intrepid Potash stock in a transaction on Friday, March 14th. The shares were sold at an average price of $26.54, for a total value of $1,258,765.66. Following the completion of the sale, the insider now directly owns 1,164,794 shares of the company’s stock, valued at $30,913,632.76. The trade was a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Up 0.8 %

Intrepid Potash stock opened at $29.16 on Thursday. Intrepid Potash, Inc. has a 52-week low of $18.55 and a 52-week high of $29.75. The firm has a market cap of $385.60 million, a PE ratio of -8.70 and a beta of 2.18. The company’s 50 day moving average is $26.18 and its two-hundred day moving average is $25.22.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. During the same quarter last year, the business posted ($0.41) earnings per share. 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in Intrepid Potash by 0.3% in 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 last quarter. Glenorchy Capital Ltd raised its holdings in shares of Intrepid Potash by 1.1% in the 4th quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company’s stock valued at $1,379,000 after purchasing an additional 714 shares in the last quarter. SG Americas Securities LLC lifted its position 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 last quarter. Goehring & Rozencwajg Associates LLC grew its stake in shares of 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 purchasing an additional 1,272 shares in the last quarter. Finally, State Street Corp increased its holdings in Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock valued at $5,452,000 after buying an additional 1,402 shares during the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group lowered their target price on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a report on Tuesday, March 4th.

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.