Robert P. Jornayvaz III Sells 57,441 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $25.84, for a total value of $1,484,275.44. Following the transaction, the insider now directly owns 1,227,559 shares of the company’s stock, valued at approximately $31,720,124.56. The trade was a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of NYSE IPI opened at $26.20 on Thursday. Intrepid Potash, Inc. has a 1-year low of $18.32 and a 1-year high of $29.75. The business’s 50 day moving average is $24.78 and its two-hundred day moving average is $24.72. The stock has a market capitalization of $346.63 million, a P/E ratio of -7.82 and a beta of 2.23.

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently modified their holdings of IPI. Geode Capital Management LLC boosted its stake in Intrepid Potash by 0.8% during the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company’s stock worth $5,560,000 after buying an additional 1,732 shares during the period. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 10,599 shares during the last quarter. State Street Corp lifted its holdings in shares of Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company’s stock worth $5,452,000 after acquiring an additional 1,402 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Intrepid Potash during the 3rd quarter worth about $3,100,000. Finally, The Manufacturers Life Insurance Company bought a new position in Intrepid Potash during the 3rd quarter valued at about $602,000. Institutional investors own 56.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IPI shares. StockNews.com upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, January 28th.

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.