Robert P. Jornayvaz III Sells 8,984 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $30.56, for a total value of $274,551.04. Following the completion of the transaction, the insider now directly owns 1,105,545 shares in the company, valued at approximately $33,785,455.20. This represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 2.0 %

Intrepid Potash stock opened at $29.39 on Friday. The firm has a fifty day simple moving average of $26.76 and a two-hundred day simple moving average of $25.53. Intrepid Potash, Inc. has a twelve month low of $18.83 and a twelve month high of $31.29. The company has a market capitalization of $388.67 million, a PE ratio of -8.77 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share 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 company had revenue of $55.80 million during the quarter, compared to the consensus estimate of $50.35 million. During the same period last year, the firm posted ($0.41) EPS. As a group, equities analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com cut Intrepid Potash from a “hold” rating to a “sell” rating in a report on Thursday. UBS Group cut their target price on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday, March 4th.

Institutional Trading of Intrepid Potash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Intrepid Potash in the fourth quarter worth $38,000. State of Wyoming bought a new stake in Intrepid Potash in the 4th quarter worth $46,000. BNP Paribas Financial Markets purchased a new position in shares of Intrepid Potash in the fourth quarter valued at about $87,000. Aquatic Capital Management LLC raised its stake in shares of Intrepid Potash by 274.3% during the fourth quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Intrepid Potash by 14.0% during the fourth quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 830 shares during the period. Institutional investors 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.