Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 3,557 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $25.00, for a total transaction of $88,925.00. Following the sale, the insider now owns 129,230 shares of the company's stock, valued at approximately $3,230,750. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Stock Performance
IPI opened at $22.10 on Friday. The company's 50-day simple moving average is $25.75 and its two-hundred day simple moving average is $24.48. The stock has a market capitalization of $290.90 million, a P/E ratio of -6.60 and a beta of 2.21. Intrepid Potash, Inc. has a 52-week low of $17.52 and a 52-week high of $29.75.
Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.25). Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million for the quarter, compared to the consensus estimate of $42.57 million. During the same quarter last year, the company earned ($0.53) EPS. Research analysts forecast that Intrepid Potash, Inc. will post -0.17 EPS for the current fiscal year.
Institutional Trading of Intrepid Potash
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Several large investors have recently modified their holdings of the company. First Eagle Investment Management LLC lifted its holdings in Intrepid Potash by 25.1% in the second quarter. First Eagle Investment Management LLC now owns 602,770 shares of the basic materials company's stock valued at $14,123,000 after acquiring an additional 121,100 shares during the period. Glenorchy Capital Ltd increased its position in shares of Intrepid Potash by 95.7% during the 3rd quarter. Glenorchy Capital Ltd now owns 62,214 shares of the basic materials company's stock valued at $1,493,000 after purchasing an additional 30,425 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Intrepid Potash in the 3rd quarter worth approximately $3,100,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intrepid Potash in the third quarter worth approximately $602,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Intrepid Potash during the second quarter valued at approximately $979,000. Institutional investors own 56.13% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on IPI shares. UBS Group increased their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a "sell" rating in a report on Tuesday, November 5th. StockNews.com raised Intrepid Potash from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th.
Check Out Our Latest Research Report on Intrepid Potash
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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