Insider Selling: Intrepid Potash, Inc (NYSE:IPI) Major Shareholder Sells 53,035 Shares of Stock

Key Points

• Robert P. Jornayvaz III, a major shareholder of Intrepid Potash, sold 53,035 shares of stock for approximately $1.82 million, leading to a 93.07% decrease in his holdings.
• Intrepid Potash reported $0.39 earnings per share for the last quarter, significantly exceeding expectations of ($0.12) and generating revenue of $97.76 million.
• Analysts have mixed views on the stock, with UBS raising its price target to $24.00 while maintaining a "sell" rating, and Wall Street Zen upgrading it from "sell" to "hold."

Intrepid Potash, Inc (NYSE:IPI - Get Free Report) major shareholder Robert P. Jornayvaz III sold 53,035 shares of Intrepid Potash stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $34.30, for a total transaction of $1,819,100.50. Following the completion of the transaction, the insider directly owned 3,950 shares of the company's stock, valued at approximately $135,485. This represents a 93.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Intrepid Potash Price Performance

IPI stock traded down $0.83 on Friday, reaching $35.94. The company's stock had a trading volume of 84,990 shares, compared to its average volume of 144,638. Intrepid Potash, Inc has a 52 week low of $20.75 and a 52 week high of $39.01. The company has a market capitalization of $478.65 million, a P/E ratio of 262.57 and a beta of 1.72. The firm has a fifty day moving average of $36.23 and a two-hundred day moving average of $31.02.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.51. Intrepid Potash had a negative net margin of 75.09% and a positive return on equity of 0.31%. The business had revenue of $97.76 million during the quarter, compared to analysts' expectations of $72.34 million. As a group, equities analysts expect that Intrepid Potash, Inc will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Intrepid Potash

Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of Intrepid Potash during the 1st quarter valued at $29,000. State of Wyoming acquired a new position in shares of Intrepid Potash during the 4th quarter valued at $46,000. FNY Investment Advisers LLC acquired a new position in shares of Intrepid Potash during the 1st quarter valued at $102,000. BNP Paribas Financial Markets acquired a new position in shares of Intrepid Potash during the 4th quarter valued at $87,000. Finally, Aquatic Capital Management LLC increased its position in shares of Intrepid Potash by 274.3% during the 4th quarter. Aquatic Capital Management LLC now owns 5,614 shares of the basic materials company's stock valued at $123,000 after purchasing an additional 4,114 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group raised their price target on Intrepid Potash from $21.00 to $24.00 and gave the stock a "sell" rating in a report on Wednesday. Wall Street Zen raised Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th.

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.

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