Robert P. Jornayvaz III Sells 22,987 Shares of Intrepid Potash, Inc. (NYSE:IPI) Stock

Intrepid Potash, Inc. (NYSE:IPI) major shareholder Robert P. Jornayvaz III sold 22,987 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $37.06, for a total transaction of $851,898.22. Following the completion of the transaction, the insider now directly owns 1,021,175 shares of the company’s stock, valued at $37,844,745.50. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Intrepid Potash Stock Up 3.3%

Shares of IPI stock opened at $37.07 on Wednesday. Intrepid Potash, Inc. has a 12-month low of $20.75 and a 12-month high of $38.87. The firm has a market capitalization of $493.66 million, a price-to-earnings ratio of -11.07 and a beta of 1.80. The firm has a fifty day moving average of $31.09 and a 200-day moving average of $27.51.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.51. The business had revenue of $97.76 million for the quarter, compared to analysts’ expectations of $72.34 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. Research analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

IPI has been the subject of several research analyst reports. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. UBS Group decreased their price target on shares of Intrepid Potash from $20.00 to $19.00 and set a “sell” rating for the company in a report on Wednesday, April 16th.

Institutional Investors Weigh In On Intrepid Potash

Several institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in Intrepid Potash by 7.3% in the 1st quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock valued at $1,782,000 after acquiring an additional 4,137 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Intrepid Potash by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after acquiring an additional 312 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Intrepid Potash in the 1st quarter valued at $10,210,000. Bridgeway Capital Management LLC lifted its position in Intrepid Potash by 4.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 107,479 shares of the basic materials company’s stock valued at $3,159,000 after acquiring an additional 4,137 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in Intrepid Potash in the 1st quarter valued at $223,000. 56.13% of the stock is 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.