Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 192,573 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $25.08, for a total transaction of $4,829,730.84. Following the completion of the sale, the insider now owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Intrepid Potash Stock Down 1.8 %
IPI traded down $0.40 during trading hours on Thursday, hitting $22.10. 74,971 shares of the company's stock were exchanged, compared to its average volume of 93,790. Intrepid Potash, Inc. has a 1-year low of $17.52 and a 1-year high of $29.75. The stock's 50-day moving average is $25.75 and its two-hundred day moving average is $24.48. The stock has a market cap of $290.90 million, a price-to-earnings ratio of -6.60 and a beta of 2.21.
Intrepid Potash (NYSE:IPI - Get Free Report) last released its earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.25). The company had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%. During the same quarter in the previous year, the company posted ($0.53) EPS. On average, equities research analysts anticipate that Intrepid Potash, Inc. will post -0.17 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently commented on the company. UBS Group raised their price objective on Intrepid Potash from $18.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th.
Get Our Latest Analysis on Intrepid Potash
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Intrepid Potash by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,477 shares of the basic materials company's stock valued at $539,000 after purchasing an additional 2,242 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 acquiring an additional 10,599 shares during the last quarter. Geode Capital Management LLC raised its stake in Intrepid Potash by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock valued at $5,560,000 after acquiring an additional 1,732 shares during the period. State Street Corp boosted its position in Intrepid Potash by 0.6% during the third quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock worth $5,452,000 after purchasing an additional 1,402 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Intrepid Potash in the third quarter valued at $602,000. Institutional investors own 56.13% of the company's stock.
About Intrepid Potash
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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.
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