Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Down 5.5% in April

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

Insider Buying and Selling

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

Institutional Trading of Inter Parfums

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPAR. McGlone Suttner Wealth Management Inc. bought a new stake in Inter Parfums during the fourth quarter worth $27,000. Principal Securities Inc. bought a new stake in Inter Parfums during the fourth quarter worth $30,000. Signaturefd LLC raised its position in Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Inter Parfums during the fourth quarter worth $33,000. Finally, Hexagon Capital Partners LLC raised its position in Inter Parfums by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 121 shares in the last quarter. 55.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IPAR. DA Davidson reissued a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a research note on Friday, April 26th. Piper Sandler lowered their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th.

Inter Parfums Stock Down 0.6 %

Inter Parfums stock opened at $115.64 on Thursday. The stock has a market capitalization of $3.70 billion, a PE ratio of 24.35 and a beta of 1.13. Inter Parfums has a twelve month low of $114.88 and a twelve month high of $156.75. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $134.47 and a 200-day moving average of $135.16.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share 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 analyst estimates of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Inter Parfums will post 5.15 EPS for the current fiscal 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 issued a dividend of $0.75 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.59%. Inter Parfums’s dividend payout ratio is presently 63.16%.

About Inter Parfums

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.