Intrepid Potash, Inc. (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 15,476 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.58, for a total transaction of $473,256.08. Following the sale, the insider now directly owns 1,123,230 shares in the company, valued at approximately $34,348,373.40. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Intrepid Potash Price Performance
NYSE:IPI opened at $30.07 on Wednesday. The firm has a market capitalization of $397.71 million, a price-to-earnings ratio of -8.98 and a beta of 2.18. The business has a 50 day simple moving average of $26.58 and a 200-day simple moving average of $25.40. Intrepid Potash, Inc. has a 1 year low of $18.59 and a 1 year high of $31.29.
Intrepid Potash (NYSE:IPI - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.06). The company had revenue of $55.80 million during the quarter, compared to the consensus estimate 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 prior year, the business earned ($0.41) earnings per share. As a group, analysts expect that Intrepid Potash, Inc. will post -0.17 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Intrepid Potash
A number of large investors have recently made changes to their positions in IPI. Quest Partners LLC raised its position in Intrepid Potash by 24,863.2% in the 3rd quarter. Quest Partners LLC now owns 9,486 shares of the basic materials company's stock worth $228,000 after purchasing an additional 9,448 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Intrepid Potash during the third quarter valued at approximately $602,000. State Street Corp raised 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 worth $5,452,000 after buying an additional 1,402 shares during the period. Barclays PLC lifted its stake 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. Finally, Geode Capital Management LLC lifted its stake in shares of Intrepid Potash by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 231,594 shares of the basic materials company's stock worth $5,560,000 after acquiring an additional 1,732 shares during the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, UBS Group reduced their target price on shares of Intrepid Potash from $21.00 to $20.00 and set a "sell" rating on the stock in a report on Tuesday, March 4th.
View Our Latest Stock Report on IPI
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.
Further Reading
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