Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 30,000 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $29.00, for a total transaction of $870,000.00. Following the transaction, the insider now owns 1,444,513 shares of the company’s stock, valued at approximately $41,890,877. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

IPI traded down $0.20 on Thursday, reaching $22.30. 32,906 shares of the company’s stock were exchanged, compared to its average volume of 93,614. Intrepid Potash, Inc. has a twelve month low of $17.52 and a twelve month high of $29.75. The stock has a market cap of $293.53 million, a PE ratio of -6.66 and a beta of 2.21. The stock’s fifty day moving average price is $25.80 and its 200-day moving average price is $24.49.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25). The company had revenue of $57.55 million during the quarter, compared to analyst estimates 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 prior year, the business posted ($0.53) EPS. As a group, research analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after buying an additional 10,599 shares during the period. Geode Capital Management LLC lifted its holdings in Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock valued at $5,560,000 after acquiring an additional 1,732 shares during the last quarter. State Street Corp grew its position 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 worth $5,452,000 after acquiring an additional 1,402 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Intrepid Potash during the third quarter worth $602,000. Finally, Quest Partners LLC raised its position in Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on IPI shares. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group increased their price objective on Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th.

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.