Robert P. Jornayvaz III Sells 26,088 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $28.68, for a total transaction of $748,203.84. Following the completion of the transaction, the insider now directly owns 1,138,706 shares of the company’s stock, valued at $32,658,088.08. This represents a 2.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

NYSE IPI opened at $29.16 on Thursday. The firm has a market capitalization of $385.60 million, a price-to-earnings ratio of -8.70 and a beta of 2.18. The company has a 50 day simple moving average of $26.18 and a 200-day simple moving average of $25.22. Intrepid Potash, Inc. has a 52-week low of $18.55 and a 52-week high of $29.75.

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). The company had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the previous year, the company earned ($0.41) EPS. On average, analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

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.

Institutional Trading of Intrepid Potash

A number of institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its position in Intrepid Potash by 0.3% in the 4th quarter. American Century Companies Inc. now owns 185,844 shares of the basic materials company’s stock worth $4,074,000 after purchasing an additional 577 shares during the last quarter. Glenorchy Capital Ltd grew its stake 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 buying an additional 714 shares in the last quarter. SG Americas Securities LLC increased its holdings in Intrepid Potash by 14.0% in the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after buying an additional 830 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its position in 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 valued at $4,803,000 after acquiring an additional 1,272 shares in the last quarter. Finally, State Street Corp lifted its stake 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 acquiring an additional 1,402 shares during the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

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.