Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 27,484 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 27,484 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $26.78, for a total value of $736,021.52. Following the completion of the sale, the insider now owns 56,987 shares in the company, valued at approximately $1,526,111.86. This trade represents a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 3.0 %

Shares of NYSE IPI traded down $0.81 during trading hours on Friday, hitting $26.30. The company had a trading volume of 61,825 shares, compared to its average volume of 110,205. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The firm's 50 day moving average is $25.01 and its 200-day moving average is $24.69. The stock has a market capitalization of $346.11 million, a P/E ratio of -7.85 and a beta of 2.23.

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

Analyst Upgrades and Downgrades

IPI has been the subject of a number of analyst reports. StockNews.com raised shares of Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. UBS Group raised their price objective on Intrepid Potash from $19.00 to $21.00 and gave the company a "sell" rating in a report on Tuesday, January 28th.

Institutional Trading of Intrepid Potash

Several institutional investors and hedge funds have recently bought and sold shares of IPI. R Squared Ltd bought a new stake in shares of Intrepid Potash during the 4th quarter worth about $38,000. SG Americas Securities LLC bought a new stake in shares of Intrepid Potash during the third quarter worth approximately $142,000. Quest Partners LLC grew its position in shares of Intrepid Potash by 24,863.2% in the third quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company's stock valued at $228,000 after purchasing an additional 9,448 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Intrepid Potash during the second quarter worth approximately $303,000. Finally, Barclays PLC lifted its holdings in Intrepid Potash by 282.6% during the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock worth $344,000 after purchasing an additional 10,599 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.