Intrepid Potash, Inc. (IPI) Insider Robert P. Jornayvaz III Purchases 5,100 Shares of Stock
Intrepid Potash, Inc. (NYSE:IPI) insider Robert P. Jornayvaz III acquired 5,100 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $3.53 per share, with a total value of $18,003.00. Following the transaction, the insider now directly owns 1,206,650 shares of the company’s stock, valued at $4,259,474.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Intrepid Potash, Inc. (NYSE IPI) traded up $0.04 on Friday, reaching $3.70. 1,030,000 shares of the company were exchanged, compared to its average volume of 840,632. Intrepid Potash, Inc. has a 1-year low of $1.24 and a 1-year high of $4.63. The company has a quick ratio of 1.17, a current ratio of 4.71 and a debt-to-equity ratio of 0.15.
Intrepid Potash (NYSE:IPI) last released its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. The business had revenue of $32.06 million during the quarter, compared to analyst estimates of $33.15 million. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The business’s revenue was down 26.5% on a year-over-year basis. During the same period last year, the business earned ($0.22) EPS. equities analysts forecast that Intrepid Potash, Inc. will post -0.16 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Intrepid Potash by 30.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,255,979 shares of the basic materials company’s stock valued at $9,619,000 after purchasing an additional 994,554 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 82.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock valued at $13,870,000 after acquiring an additional 1,435,178 shares during the last quarter. State Street Corp boosted its stake in Intrepid Potash by 3,191.0% during the 2nd quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock valued at $2,590,000 after acquiring an additional 1,109,782 shares during the last quarter. Northern Trust Corp boosted its stake in Intrepid Potash by 540.0% during the 2nd quarter. Northern Trust Corp now owns 1,091,221 shares of the basic materials company’s stock valued at $2,466,000 after acquiring an additional 920,720 shares during the last quarter. Finally, Old West Investment Management LLC boosted its stake in Intrepid Potash by 18.5% during the 3rd quarter. Old West Investment Management LLC now owns 1,012,459 shares of the basic materials company’s stock valued at $4,414,000 after acquiring an additional 158,256 shares during the last quarter. 47.99% of the stock is owned by institutional investors and hedge funds.
IPI has been the subject of several recent research reports. Cowen reissued a “sell” rating and issued a $3.50 price objective on shares of Intrepid Potash in a research report on Friday, December 1st. BMO Capital Markets raised their price target on shares of Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a report on Tuesday, October 31st. Finally, Stephens began coverage on shares of Intrepid Potash in a report on Monday, December 4th. They set an “equal weight” rating and a $4.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Intrepid Potash has a consensus rating of “Hold” and an average price target of $3.55.
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About Intrepid Potash
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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