Insider Selling: 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 firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the completion of the transaction, the insider now directly owns 1,123,230 shares in the company, valued at $34,348,373.40. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded down $0.60 during trading hours on Friday, reaching $29.40. The company had a trading volume of 132,026 shares, compared to its average volume of 102,112. The firm has a market cap of $388.78 million, a PE ratio of -8.72 and a beta of 2.18. Intrepid Potash, Inc. has a one year low of $18.83 and a one year high of $31.29. The business has a fifty day simple moving average of $26.71 and a 200 day simple moving average of $25.46.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm had revenue of $55.80 million for the quarter, compared to analysts' expectations of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period in the prior year, the firm posted ($0.41) EPS. On average, research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

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Wall Street Analyst Weigh In

Several brokerages have recently commented on IPI. UBS Group lowered their price objective on Intrepid Potash from $21.00 to $20.00 and set a "sell" rating for the company in a research note on Tuesday, March 4th. StockNews.com lowered Intrepid Potash from a "hold" rating to a "sell" rating in a research report on Thursday.

Institutional Trading of Intrepid Potash

A number of large investors have recently modified their holdings of the business. R Squared Ltd purchased a new position in Intrepid Potash in the fourth quarter worth $38,000. State of Wyoming bought a new stake in Intrepid Potash during the fourth quarter worth about $46,000. BNP Paribas Financial Markets purchased a new position in shares of Intrepid Potash in the 4th quarter worth about $87,000. Aquatic Capital Management LLC increased its position in shares of Intrepid Potash by 274.3% during the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock valued at $123,000 after purchasing an additional 4,114 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Intrepid Potash by 14.0% during the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company's stock valued at $148,000 after purchasing an additional 830 shares during the last quarter. Institutional investors 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.