Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $736,021.52 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $26.78, for a total transaction of $736,021.52. Following the completion of the sale, the insider now directly owns 56,987 shares in the company, valued at approximately $1,526,111.86. This represents a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 3.0 %

Shares of Intrepid Potash stock opened at $26.30 on Friday. The company has a fifty day simple moving average of $25.01 and a 200-day simple moving average of $24.70. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The stock has a market cap of $346.11 million, a price-to-earnings ratio of -7.85 and a beta of 2.23.

Intrepid Potash (NYSE:IPI) last issued its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million during the quarter, compared to analyst estimates of $42.57 million. During the same quarter in the previous year, the company posted ($0.53) EPS. On average, analysts forecast that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IPI shares. UBS Group increased their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday. StockNews.com upgraded shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake 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 purchasing an additional 1,732 shares during the period. Glenorchy Capital Ltd boosted its stake in Intrepid Potash by 95.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company’s stock worth $1,493,000 after purchasing an additional 30,425 shares during the period. Barclays PLC boosted 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 worth $344,000 after purchasing an additional 10,599 shares during the period. State Street Corp boosted its stake in Intrepid Potash by 0.6% during the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after purchasing an additional 1,402 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in Intrepid Potash during the 3rd quarter worth $3,100,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.