Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $1,484,275.44 in Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 57,441 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.84, for a total transaction of $1,484,275.44. Following the sale, the insider now owns 1,227,559 shares of the company's stock, valued at approximately $31,720,124.56. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Intrepid Potash Trading Down 3.3 %

Intrepid Potash stock traded down $0.86 during trading hours on Friday, hitting $25.51. 131,931 shares of the stock traded hands, compared to its average volume of 123,886. Intrepid Potash, Inc. has a one year low of $18.32 and a one year high of $29.75. The firm's 50-day moving average price is $24.81 and its two-hundred day moving average price is $24.75. The company has a market cap of $337.41 million, a PE ratio of -7.61 and a beta of 2.23.

Analysts Set New Price Targets

Several research firms have recently issued reports on IPI. StockNews.com raised Intrepid Potash from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. UBS Group boosted their price objective on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a "sell" rating in a research report on Tuesday, January 28th.

Institutional Investors Weigh In On Intrepid Potash

Hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in Intrepid Potash in the fourth quarter worth $38,000. State of Wyoming purchased a new stake in shares of Intrepid Potash in the 4th quarter worth about $46,000. BNP Paribas Financial Markets bought a new position in shares of Intrepid Potash in the 4th quarter worth about $87,000. Aquatic Capital Management LLC lifted its position 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 valued at $123,000 after acquiring an additional 4,114 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Intrepid Potash during the third quarter worth about $142,000. 56.13% of the stock is currently owned by institutional investors.

About Intrepid Potash

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.