Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 24,567 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 24,567 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $26.93, for a total value of $661,589.31. Following the sale, the insider now directly owns 104,663 shares of the company's stock, valued at approximately $2,818,574.59. This represents a 19.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Up 1.4 %

Shares of IPI stock traded up $0.38 on Wednesday, hitting $27.51. 160,185 shares of the stock were exchanged, compared to its average volume of 132,780. The firm's 50 day moving average is $25.03 and its two-hundred day moving average is $24.54. Intrepid Potash, Inc. has a one year low of $17.52 and a one year high of $29.75. The firm has a market capitalization of $361.99 million, a PE ratio of -8.21 and a beta of 2.23.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The business had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same quarter in the prior year, the business earned ($0.53) EPS. On average, sell-side analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in Intrepid Potash by 14.0% in the 4th quarter. SG Americas Securities LLC now owns 6,743 shares of the basic materials company's stock worth $148,000 after acquiring an additional 830 shares during the last quarter. Rhumbline Advisers raised its stake in Intrepid Potash by 5.0% in the second quarter. Rhumbline Advisers now owns 17,997 shares of the basic materials company's stock valued at $422,000 after purchasing an additional 861 shares in the last quarter. State Street Corp lifted its position in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock valued at $5,452,000 after purchasing an additional 1,402 shares during the last quarter. Geode Capital Management LLC grew its stake in Intrepid Potash by 0.8% in the 3rd 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Intrepid Potash by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company's stock valued at $539,000 after buying an additional 2,242 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

A number of research firms recently issued reports on IPI. StockNews.com upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. UBS Group raised their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th.

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.

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