Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells $4,006,966.56 in Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 159,513 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $25.12, for a total transaction of $4,006,966.56. Following the completion of the transaction, the insider now directly owns 1,285,000 shares in the company, valued at approximately $32,279,200. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded down $0.40 during midday trading on Thursday, reaching $22.10. The company had a trading volume of 74,971 shares, compared to its average volume of 93,790. The stock has a fifty day moving average price of $25.75 and a 200 day moving average price of $24.48. Intrepid Potash, Inc. has a fifty-two week low of $17.52 and a fifty-two week high of $29.75. The firm has a market cap of $290.90 million, a PE ratio of -6.60 and a beta of 2.21.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) 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 previous year, the company posted ($0.53) earnings per share. As a group, sell-side analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Intrepid Potash

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Intrepid Potash by 11.1% in the third 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. Barclays PLC raised its position in Intrepid Potash by 282.6% in the 3rd quarter. Barclays PLC now owns 14,350 shares of the basic materials company's stock valued at $344,000 after buying an additional 10,599 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intrepid Potash by 0.8% in the third quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock valued at $5,560,000 after purchasing an additional 1,732 shares during the last quarter. State Street Corp increased its stake in Intrepid Potash by 0.6% in the 3rd quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock valued at $5,452,000 after buying an additional 1,402 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash during the 3rd quarter worth approximately $602,000. Institutional investors and hedge funds own 56.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IPI shares. StockNews.com raised shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. UBS Group increased their price target on Intrepid Potash from $18.00 to $19.00 and gave the company 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.