Insider Selling: Intrepid Potash, Inc. (NYSE:IPI) Major Shareholder Sells 8,984 Shares of Stock

Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 8,984 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $30.56, for a total transaction of $274,551.04. Following the transaction, the insider now owns 1,105,545 shares in the company, valued at approximately $33,785,455.20. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Intrepid Potash Stock Up 0.3 %

Shares of Intrepid Potash stock traded up $0.10 during trading on Tuesday, reaching $29.49. 152,542 shares of the company were exchanged, compared to its average volume of 103,005. Intrepid Potash, Inc. has a twelve month low of $18.83 and a twelve month high of $31.29. The business has a 50-day moving average price of $26.87 and a 200-day moving average price of $25.63. The firm has a market capitalization of $390.03 million, a price-to-earnings ratio of -8.80 and a beta of 2.18.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $55.80 million for the quarter, compared to analyst estimates of $50.35 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 firm posted ($0.41) earnings per share. On average, equities research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.

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Institutional Investors Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Intrepid Potash in the 4th quarter valued at $1,007,000. Two Sigma Investments LP grew its stake in Intrepid Potash by 16.7% in the fourth quarter. Two Sigma Investments LP now owns 75,974 shares of the basic materials company's stock valued at $1,665,000 after acquiring an additional 10,894 shares during the period. State of Wyoming acquired a new position in Intrepid Potash in the fourth quarter valued at about $46,000. Lazard Asset Management LLC bought a new stake in shares of Intrepid Potash in the fourth quarter worth about $153,000. Finally, Glenorchy Capital Ltd raised its position in shares of Intrepid Potash by 1.1% during the fourth quarter. Glenorchy Capital Ltd now owns 62,928 shares of the basic materials company's stock worth $1,379,000 after purchasing an additional 714 shares during the period. Institutional investors own 56.13% of the company's stock.

Analyst Upgrades and Downgrades

IPI has been the topic of several research reports. UBS Group reduced their price objective on Intrepid Potash from $21.00 to $20.00 and set a "sell" rating on the stock in a report on Tuesday, March 4th. StockNews.com cut Intrepid Potash from a "hold" rating to a "sell" rating in a report on Thursday, March 27th.

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.