Robert P. Jornayvaz III Buys 20,000 Shares of Intrepid Potash, Inc (NYSE:IPI) Stock
Intrepid Potash, Inc (NYSE:IPI) insider Robert P. Jornayvaz III acquired 20,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $3.31 per share, with a total value of $66,200.00. Following the completion of the transaction, the insider now owns 1,206,650 shares of the company’s stock, valued at approximately $3,994,011.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Robert P. Jornayvaz III also recently made the following trade(s):
- On Monday, May 22nd, Robert P. Jornayvaz III acquired 50,000 shares of Intrepid Potash stock. The shares were bought at an average cost of $2.30 per share, with a total value of $115,000.00.
Intrepid Potash, Inc (NYSE:IPI) opened at 3.37 on Wednesday. Intrepid Potash, Inc has a 12 month low of $0.93 and a 12 month high of $3.93. The firm’s market capitalization is $426.43 million. The stock’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.15.
Intrepid Potash (NYSE:IPI) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Intrepid Potash had a negative return on equity of 12.37% and a negative net margin of 30.56%. The business had revenue of $43.90 million during the quarter, compared to analyst estimates of $37.75 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. On average, analysts forecast that Intrepid Potash, Inc will post ($0.26) earnings per share for the current year.
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Several large investors have recently bought and sold shares of IPI. Royce & Associates LP raised its stake in Intrepid Potash by 44.4% in the second quarter. Royce & Associates LP now owns 490,206 shares of the basic materials company’s stock worth $1,108,000 after buying an additional 150,800 shares during the period. Rhumbline Advisers acquired a new stake in shares of Intrepid Potash during the second quarter worth $241,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Intrepid Potash during the second quarter worth $361,000. Dimensional Fund Advisors LP raised its stake in shares of Intrepid Potash by 46.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,702 shares of the basic materials company’s stock worth $2,364,000 after buying an additional 437,784 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Intrepid Potash by 74.0% in the first quarter. Geode Capital Management LLC now owns 617,705 shares of the basic materials company’s stock worth $1,062,000 after buying an additional 262,790 shares during the period. Institutional investors and hedge funds own 42.41% of the company’s stock.
IPI has been the subject of a number of analyst reports. Zacks Investment Research raised Intrepid Potash from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Wednesday, May 3rd. UBS AG downgraded Intrepid Potash from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $2.00 to $2.50 in a research report on Monday. BidaskClub raised Intrepid Potash from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, BMO Capital Markets boosted their price objective on Intrepid Potash from $2.00 to $3.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd.
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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