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

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 26,088 shares of the business’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 value of $748,203.84. Following the transaction, the insider now owns 1,138,706 shares in the company, valued at approximately $32,658,088.08. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 0.8 %

NYSE:IPI traded down $0.25 during trading hours on Tuesday, reaching $28.94. 139,072 shares of the stock were exchanged, compared to its average volume of 143,687. The business has a 50-day moving average of $25.94 and a two-hundred day moving average of $25.16. Intrepid Potash, Inc. has a twelve month low of $18.55 and a twelve month high of $29.75. The company has a market capitalization of $382.69 million, a price-to-earnings ratio of -8.64 and a beta of 2.18.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data 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 return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $55.80 million for the quarter, compared to analysts’ expectations of $50.35 million. During the same period in the prior year, the company posted ($0.41) EPS. On average, research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Intrepid Potash

Large investors have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $38,000. State of Wyoming purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $87,000. Aquatic Capital Management LLC increased its position 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 worth $123,000 after acquiring an additional 4,114 shares during the period. Finally, SG Americas Securities LLC increased its position 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 acquiring an additional 830 shares during the period. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price objective on Intrepid Potash from $21.00 to $20.00 and set a “sell” rating on the stock in a 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.