Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 47,429 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 47,429 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $26.54, for a total transaction of $1,258,765.66. Following the completion of the sale, the insider now directly owns 1,164,794 shares of the company’s stock, valued at approximately $30,913,632.76. This represents a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Down 0.5 %

Shares of IPI stock opened at $29.03 on Friday. The stock has a 50-day simple moving average of $26.30 and a 200 day simple moving average of $25.25. The stock has a market capitalization of $383.98 million, a P/E ratio of -8.67 and a beta of 2.18. Intrepid Potash, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $29.75.

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 the consensus estimate 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 business had revenue of $55.80 million for the quarter, compared to the consensus estimate of $50.35 million. During the same quarter last year, the business posted ($0.41) EPS. On average, sell-side analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its stake in shares of Intrepid Potash by 4.5% during the 4th quarter. First Eagle Investment Management LLC now owns 657,970 shares of the basic materials company’s stock worth $14,423,000 after acquiring an additional 28,500 shares in the last quarter. Azarias Capital Management L.P. boosted its position in shares of Intrepid Potash by 7.4% in the 4th quarter. Azarias Capital Management L.P. now owns 657,464 shares of the basic materials company’s stock valued at $14,412,000 after purchasing an additional 45,446 shares during the period. Geode Capital Management LLC increased its stake in Intrepid Potash by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 234,908 shares of the basic materials company’s stock worth $5,151,000 after purchasing an additional 3,314 shares in the last quarter. State Street Corp increased its stake in 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 purchasing an additional 1,402 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Intrepid Potash by 0.6% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 209,362 shares of the basic materials company’s stock valued at $4,803,000 after buying an additional 1,272 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their target price 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.