Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 27,484 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the stock in a transaction dated 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 owns 56,987 shares of the company’s stock, valued at approximately $1,526,111.86. This trade represents a 32.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Up 3.2 %

NYSE:IPI traded up $0.84 on Wednesday, reaching $27.06. 108,367 shares of the stock traded hands, compared to its average volume of 122,393. The company’s fifty day simple moving average is $25.03 and its 200 day simple moving average is $24.66. Intrepid Potash, Inc. has a 12 month low of $17.52 and a 12 month high of $29.75. The company has a market capitalization of $356.04 million, a price-to-earnings ratio of -8.08 and a beta of 2.23.

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

Institutional Trading of Intrepid Potash

Hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Intrepid Potash in the fourth quarter worth $38,000. SG Americas Securities LLC acquired a new position in shares of Intrepid Potash in the 3rd quarter valued at $142,000. Quest Partners LLC boosted its holdings in Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 9,448 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Intrepid Potash during the second quarter valued at approximately $303,000. Finally, Barclays PLC boosted its position in Intrepid Potash by 282.6% in 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 in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Intrepid Potash from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday. StockNews.com raised Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

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.