Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $748,203.84 in Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 26,088 shares of Intrepid Potash stock in a transaction on Monday, March 17th. The shares were sold at an average price of $28.68, for a total transaction of $748,203.84. Following the completion of the transaction, the insider now directly owns 1,138,706 shares of the company's stock, valued at $32,658,088.08. The trade was a 2.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Stock Down 0.3 %

NYSE:IPI traded down $0.10 on Friday, hitting $28.91. The stock had a trading volume of 174,435 shares, compared to its average volume of 97,676. The stock has a market cap of $382.30 million, a price-to-earnings ratio of -8.63 and a beta of 2.18. The company has a fifty day moving average price of $26.42 and a two-hundred day moving average price of $25.28. Intrepid Potash, Inc. has a 1-year low of $18.55 and a 1-year high of $29.75.

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). Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. The company had revenue of $55.80 million during the quarter, compared to analyst estimates of $50.35 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, analysts anticipate that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

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Analyst Ratings Changes

Separately, UBS Group cut their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a "sell" rating for the company in a research note on Tuesday, March 4th.

Hedge Funds Weigh In On Intrepid Potash

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Intrepid Potash in the 4th quarter worth approximately $38,000. State of Wyoming acquired a new stake in Intrepid Potash during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new stake in Intrepid Potash during the 4th quarter worth approximately $87,000. Aquatic Capital Management LLC lifted its holdings in 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 worth $123,000 after buying an additional 4,114 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 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 worth $148,000 after buying an additional 830 shares in the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

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.