Markets

Intrepid Potash Inc. Insider Buys Almost 40,000 Shares

Robert Jornayvaz ( Insider Trades ), CEO, president and 10% owner of Intrepid Potash Inc. ( IPI ), bought 39,968 shares of the company on Sept. 23. The average price per share was $5.87 for a total transaction of $234,612. Intrepid Potash Inc. is the sole U.S. producer of potash and supplies 9% of the country's annual consumption. Intrepid Potash also produces a specialty fertilizer called Trio, which delivers three key nutrients, potassium, magnesium and sulfate in a single particle. The company has a market cap of $452.45 million and a P/S ratio of 1.34.

Insider buys of the company increased from 2012 to 2015; on the other hand, insider sales of the company decreased during the same period of time. There were six insider sales in 2012 totaling 923,479 shares, and no insider sales as of this month. The inverse is true for 2015. There were no insider buys in 2012, but there were three insider buys totaling 130,688 shares of the company in 2015. Jornayvaz made all three of the insider buys in 2015 and another insider buy in 2013, which add up to a total of 150,688 shares. His earliest buy has decreased nearly 70% since the purchase. Jornayvaz also sold 3,931,051 shares of IPI in 14 transactions since November 2009. His earliest sale has also decreased about 70% since then.

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For more information about insider trades with IPI, click here.

The company reported a net loss of $4.937 million, or 7 cents per share in the second quarter of 2015, down from a net income of $5.562 million, or 7 cents per share in the corresponding quarter of 2014. Annual net income for Intrepid Potash decreased 37.25% since 2010, and annual revenue also decreased in the same period of time, though only by 0.1%.

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Jornayvaz attributes the second quarter results to "lower potash sales volume and production levels," but states that the company will, "remain focused on achieving sustainable, long-term performance and achieving operation excellence." Jornayaz said the company plans to increase the production of their specialty fertilizer, Trio, as well as update their facility to build on previous modifications.

In the second quarter of 2015, Paul Tudor Jones (Trades, Portfolio) increased his stake in the company by 34.97%, buying 20,307 shares. In the previous quarter, Jones increased his holding by 264.35%. Steven Cohen (Trades, Portfolio) sold out 85,000 shares of the company for an average per share price of $11.84. In the previous quarter, Cohen reduced his stake in the company by 71.90%, selling 217,500 shares at a per share price of $13.17. The total estimated loss of the holding since the fourth quarter of 2014 is 8%. For more information about guru trades with IPI, click here.

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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