Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $2,248,339.66 in Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 59,701 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $37.66, for a total transaction of $2,248,339.66. Following the completion of the transaction, the insider now owns 1,044,162 shares in the company, valued at $39,323,140.92. The trade was a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of IPI stock opened at $37.95 on Friday. Intrepid Potash, Inc. has a one year low of $20.75 and a one year high of $38.87. The firm’s 50 day moving average price is $29.63 and its 200-day moving average price is $26.97. The firm has a market cap of $505.38 million, a P/E ratio of -11.33 and a beta of 1.80.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.51. The business had revenue of $97.76 million during the quarter, compared to analyst estimates of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. As a group, research analysts predict that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPI shares. UBS Group decreased their price objective on Intrepid Potash from $20.00 to $19.00 and set a “sell” rating on the stock in a report on Wednesday, April 16th. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th.

Institutional Trading of Intrepid Potash

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Intrepid Potash by 282.6% in the third quarter. Barclays PLC now owns 14,350 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 10,599 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Intrepid Potash by 577.1% in the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company’s stock valued at $3,336,000 after buying an additional 129,722 shares during the period. Azarias Capital Management L.P. grew its stake in shares of Intrepid Potash by 7.4% in the fourth quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company’s stock worth $14,412,000 after acquiring an additional 45,446 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Intrepid Potash during the fourth quarter worth $1,028,000. Finally, First Eagle Investment Management LLC raised its stake in shares of Intrepid Potash by 4.5% in the fourth quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company’s stock valued at $14,423,000 after acquiring an additional 28,500 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

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.