Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 30,000 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 30,000 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $29.00, for a total transaction of $870,000.00. Following the completion of the transaction, the insider now directly owns 1,444,513 shares of the company's stock, valued at approximately $41,890,877. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Intrepid Potash Trading Down 1.8 %

Shares of IPI stock traded down $0.40 during trading hours on Thursday, reaching $22.10. 74,971 shares of the stock were exchanged, compared to its average volume of 93,790. The firm has a market capitalization of $290.90 million, a price-to-earnings ratio of -6.60 and a beta of 2.21. Intrepid Potash, Inc. has a 12-month low of $17.52 and a 12-month high of $29.75. The company's 50-day moving average price is $25.75 and its 200-day moving average price is $24.48.

Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $42.57 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. On average, sell-side analysts expect that Intrepid Potash, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on IPI. UBS Group boosted their target price on shares of Intrepid Potash from $18.00 to $19.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. StockNews.com upgraded Intrepid Potash from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

Institutional Trading of Intrepid Potash

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased 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 worth $539,000 after buying an additional 2,242 shares during the period. Barclays PLC grew its stake in Intrepid Potash by 282.6% in 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 in the last quarter. Geode Capital Management LLC boosted 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 period. State Street Corp boosted its holdings in shares of Intrepid Potash by 0.6% in the third quarter. State Street Corp now owns 227,169 shares of the basic materials company's stock valued at $5,452,000 after purchasing an additional 1,402 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Intrepid Potash in the third quarter worth approximately $602,000. 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.