Inter Parfums, Inc. (NASDAQ:IPAR) Sees Significant Drop in Short Interest

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 377,500 shares, a decrease of 12.9% from the March 15th total of 433,600 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 141,500 shares, the short-interest ratio is presently 2.7 days.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price objective on shares of Inter Parfums from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Republic Investment Management Inc. increased its position in Inter Parfums by 3.5% during the first quarter. First Republic Investment Management Inc. now owns 2,329 shares of the company’s stock worth $331,000 after purchasing an additional 78 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Inter Parfums by 1.3% in the fourth quarter. Cresset Asset Management LLC now owns 5,971 shares of the company’s stock worth $860,000 after acquiring an additional 79 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Inter Parfums by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock worth $1,641,000 after acquiring an additional 81 shares in the last quarter. Comerica Bank increased its position in shares of Inter Parfums by 0.7% in the fourth quarter. Comerica Bank now owns 11,360 shares of the company’s stock worth $1,636,000 after acquiring an additional 83 shares in the last quarter. Finally, FMR LLC increased its position in shares of Inter Parfums by 4.5% in the third quarter. FMR LLC now owns 2,000 shares of the company’s stock worth $269,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $124.93 on Tuesday. Inter Parfums has a 1-year low of $120.71 and a 1-year high of $161.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $140.98 and a 200-day simple moving average of $135.80. The firm has a market cap of $4.00 billion, a PE ratio of 26.30 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The company had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. During the same period last year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts expect that Inter Parfums will post 5.16 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.40%. Inter Parfums’s dividend payout ratio is 63.16%.

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.