Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 15,476 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.58, for a total transaction of $473,256.08. Following the sale, the insider now directly owns 1,123,230 shares in the company, valued at $34,348,373.40. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 2.0 %

IPI stock traded down $0.60 during midday trading on Friday, hitting $29.39. The stock had a trading volume of 201,463 shares, compared to its average volume of 102,294. The firm has a market cap of $388.67 million, a P/E ratio of -8.77 and a beta of 2.18. The business has a fifty day moving average price of $26.76 and a two-hundred day moving average price of $25.51. Intrepid Potash, Inc. has a 1-year low of $18.83 and a 1-year high of $31.29.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $50.35 million. During the same period in the prior year, the firm earned ($0.41) earnings per share. On average, equities analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on IPI shares. StockNews.com downgraded Intrepid Potash from a "hold" rating to a "sell" rating in a report on Thursday. UBS Group reduced 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.

Institutional Trading of Intrepid Potash

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Intrepid Potash by 577.1% during the 4th quarter. JPMorgan Chase & Co. now owns 152,199 shares of the basic materials company's stock valued at $3,336,000 after acquiring an additional 129,722 shares during the period. Renaissance Technologies LLC boosted its position in shares of Intrepid Potash by 110.1% during the 4th quarter. Renaissance Technologies LLC now owns 111,871 shares of the basic materials company's stock worth $2,452,000 after purchasing an additional 58,630 shares in the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Intrepid Potash in the 4th quarter valued at about $1,269,000. The Manufacturers Life Insurance Company increased its position in Intrepid Potash by 191.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 73,166 shares of the basic materials company's stock valued at $1,604,000 after buying an additional 48,068 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Intrepid Potash during the 4th quarter worth approximately $1,028,000. Institutional investors and hedge funds own 56.13% of the company's stock.

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.