Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 15,476 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 15,476 shares of Intrepid Potash stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the sale, the insider now owns 1,123,230 shares of the company’s stock, valued at $34,348,373.40. This represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Performance

Intrepid Potash stock traded down $0.25 during mid-day trading on Tuesday, reaching $30.07. The stock had a trading volume of 405,121 shares, compared to its average volume of 98,674. Intrepid Potash, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $30.88. The stock’s 50-day simple moving average is $26.58 and its 200-day simple moving average is $25.40. The firm has a market capitalization of $397.71 million, a PE ratio of -8.98 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results 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 net margin of 16.86% and a negative return on equity of 1.32%. The business had revenue of $55.80 million for the quarter, compared to the consensus estimate of $50.35 million. During the same quarter last year, the firm posted ($0.41) EPS. On average, research analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of 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 worth $228,000 after purchasing an additional 9,448 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Intrepid Potash during the third quarter worth $602,000. State Street Corp raised its position in Intrepid Potash by 0.6% in the 3rd 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. Barclays PLC lifted its stake in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after acquiring an additional 10,599 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after acquiring an additional 1,732 shares during the last quarter. Institutional investors own 56.13% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group decreased their price target 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.

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.