Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 14,736 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 14,736 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.67, for a total transaction of $378,273.12. Following the completion of the transaction, the insider now directly owns 1,212,823 shares of the company's stock, valued at $31,133,166.41. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Performance

Shares of NYSE IPI traded down $1.52 during mid-day trading on Monday, hitting $24.57. 222,570 shares of the stock were exchanged, compared to its average volume of 126,551. Intrepid Potash, Inc. has a twelve month low of $18.32 and a twelve month high of $29.75. The stock's fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $24.93. The company has a market cap of $324.99 million, a P/E ratio of -7.33 and a beta of 2.23.

Intrepid Potash (NYSE:IPI - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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%. During the same period in the prior year, the business earned ($0.41) EPS. As a group, equities research analysts predict that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.

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Institutional Trading of Intrepid Potash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Intrepid Potash during the 4th quarter worth about $38,000. State of Wyoming bought a new position in shares of Intrepid Potash in the fourth quarter worth about $46,000. BNP Paribas Financial Markets acquired a new position in shares of Intrepid Potash during the fourth quarter worth approximately $87,000. Aquatic Capital Management LLC grew its stake in shares of Intrepid Potash by 274.3% during the fourth 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 holdings in shares of Intrepid Potash by 14.0% in the fourth 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 in the last quarter. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on IPI shares. 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 target price on shares of Intrepid Potash from $19.00 to $21.00 and gave the company a "sell" rating in a research note on Tuesday, January 28th.

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.