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

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the sale, the insider now directly owns 1,164,794 shares of the company’s stock, valued at approximately $30,913,632.76. This trade represents a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 0.8 %

NYSE IPI opened at $28.94 on Wednesday. The stock has a market cap of $382.69 million, a P/E ratio of -8.64 and a beta of 2.18. The company’s fifty day simple moving average is $26.06 and its 200-day simple moving average is $25.19. Intrepid Potash, Inc. has a 52 week low of $18.55 and a 52 week high of $29.75.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. On average, research analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock worth $3,336,000 after acquiring an additional 129,722 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Intrepid Potash by 110.1% in the fourth quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company’s stock valued at $2,452,000 after buying an additional 58,630 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in Intrepid Potash during the fourth quarter valued at approximately $1,269,000. The Manufacturers Life Insurance Company lifted its holdings in Intrepid Potash by 191.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company’s stock worth $1,604,000 after buying an additional 48,068 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Intrepid Potash in the 4th quarter worth approximately $1,028,000. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.