Intrepid Potash, Inc. (NYSE:IPI) CEO Robert P. Jornayvaz III Sells 43,842 Shares

Intrepid Potash, Inc. (NYSE:IPI – Get Rating) CEO Robert P. Jornayvaz III sold 43,842 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $19.69, for a total value of $863,248.98. Following the transaction, the chief executive officer now directly owns 1,677,081 shares of the company’s stock, valued at approximately $33,021,724.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Intrepid Potash Price Performance

IPI opened at $20.24 on Wednesday. The stock has a 50-day moving average price of $24.68 and a 200-day moving average price of $29.62. The firm has a market cap of $266.36 million, a PE ratio of 6.02 and a beta of 2.02. Intrepid Potash, Inc. has a 1 year low of $18.26 and a 1 year high of $69.53.

Intrepid Potash (NYSE:IPI – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.12). Intrepid Potash had a return on equity of 7.43% and a net margin of 14.15%. The business had revenue of $86.92 million during the quarter, compared to the consensus estimate of $66.99 million. During the same quarter in the previous year, the business posted $2.32 earnings per share. As a group, sell-side analysts anticipate that Intrepid Potash, Inc. will post 1.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. BMO Capital Markets lowered their price objective on Intrepid Potash from $35.00 to $25.00 in a research report on Friday, May 5th. StockNews.com assumed coverage on Intrepid Potash in a research report on Thursday, May 18th. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in Intrepid Potash by 12.8% in the 3rd quarter. Raymond James & Associates now owns 21,341 shares of the basic materials company’s stock worth $844,000 after buying an additional 2,419 shares in the last quarter. Cambria Investment Management L.P. grew its stake in shares of Intrepid Potash by 190.0% during the 3rd quarter. Cambria Investment Management L.P. now owns 13,834 shares of the basic materials company’s stock valued at $547,000 after purchasing an additional 9,064 shares during the period. Quantbot Technologies LP grew its stake in shares of Intrepid Potash by 126.5% during the 3rd quarter. Quantbot Technologies LP now owns 17,234 shares of the basic materials company’s stock valued at $681,000 after purchasing an additional 9,624 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Intrepid Potash during the 4th quarter valued at about $623,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Intrepid Potash during the 3rd quarter valued at about $40,000. 55.35% of the stock is currently owned by institutional investors.

Intrepid Potash Company Profile

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Intrepid Potash, Inc is a diversified mineral company, which engages in the delivery of potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. It operates through the following segments: Potash, Trio, and Oilfield Solutions.