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

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a large decrease in short interest during 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 shares of the company are short sold. Based on an average daily volume of 146,200 shares, the days-to-cover ratio is presently 2.4 days.

Inter Parfums Trading Down 0.6 %

Shares of NASDAQ:IPAR opened at $115.64 on Thursday. The stock has a 50 day moving average of $134.47 and a 200 day moving average of $135.16. The company has a market cap of $3.70 billion, a PE ratio of 24.35 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. Inter Parfums has a 12-month low of $114.88 and a 12-month high of $156.75.

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

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.59%. 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. Inter Parfums’s dividend payout ratio is 63.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IPAR shares. Piper Sandler reduced their price target on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. DA Davidson reiterated a “buy” rating and set a $192.00 price objective on shares of Inter Parfums in a research note on Friday, April 26th. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th.

Insider Activity

In other 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 transaction of $37,605.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $150,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.90% of the company’s stock.

Institutional Trading of Inter Parfums

Several hedge funds have recently modified their holdings of IPAR. Victory Capital Management Inc. raised its holdings in Inter Parfums by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock valued at $1,641,000 after buying an additional 81 shares during the period. Comerica Bank increased its stake in 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 purchasing an additional 83 shares during the period. Teacher Retirement System of Texas increased its stake in Inter Parfums by 0.8% in the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company’s stock worth $1,721,000 after purchasing an additional 100 shares during the period. Signaturefd LLC increased its stake in Inter Parfums by 87.4% in the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Finally, Fifth Third Bancorp increased its stake in Inter Parfums by 4.9% in the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company’s stock worth $370,000 after purchasing an additional 120 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

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.