Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Update

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 356,700 shares, a decrease of 5.5% from the March 31st total of 377,500 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 146,200 shares, the days-to-cover ratio is presently 2.4 days.

Insider Activity

In related news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its stake in Inter Parfums by 49.2% in the 1st quarter. Benjamin Edwards Inc. now owns 1,562 shares of the company’s stock worth $219,000 after acquiring an additional 515 shares during the last quarter. Fifth Third Bancorp increased its stake in Inter Parfums by 30.1% in the 1st quarter. Fifth Third Bancorp now owns 3,340 shares of the company’s stock worth $469,000 after acquiring an additional 773 shares during the last quarter. Raymond James & Associates increased its stake in Inter Parfums by 10.7% in the 1st quarter. Raymond James & Associates now owns 105,204 shares of the company’s stock worth $14,782,000 after acquiring an additional 10,169 shares during the last quarter. Berry Wealth Group LP purchased a new position in shares of Inter Parfums in the 1st quarter worth approximately $242,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 121 shares during the period. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Down 1.2 %

NASDAQ IPAR opened at $116.38 on Wednesday. The stock’s 50-day moving average price is $135.20 and its 200-day moving average price is $135.30. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums has a 52 week low of $115.58 and a 52 week high of $156.75. The company has a market capitalization of $3.73 billion, a P/E ratio of 24.50 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. On average, equities research analysts predict that Inter Parfums will post 5.15 earnings per share for the current year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IPAR. DA Davidson restated a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a report on Friday, April 26th. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th. Finally, Piper Sandler dropped their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.