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

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, a growth of 46.9% from the March 15th total of 769,000 shares. Approximately 6.2% of the company’s stock are short sold. Based on an average daily trading volume, of 250,400 shares, the short-interest ratio is presently 4.5 days.

Hedge Funds Weigh In On Inter Parfums

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock valued at $30,000 after purchasing an additional 81 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in Inter Parfums by 210.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company’s stock valued at $67,000 after purchasing an additional 347 shares during the last quarter. SRH Advisors LLC boosted its stake in Inter Parfums by 791.7% in the 4th quarter. SRH Advisors LLC now owns 535 shares of the company’s stock worth $70,000 after buying an additional 475 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Inter Parfums by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock valued at $105,000 after buying an additional 400 shares during the period. Finally, Blue Trust Inc. grew its holdings in Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after purchasing an additional 167 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

Inter Parfums Trading Up 1.5 %

Shares of IPAR stock opened at $104.02 on Friday. The company has a market capitalization of $3.34 billion, a P/E ratio of 22.32 and a beta of 1.15. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums has a twelve month low of $97.65 and a twelve month high of $148.15. The business’s 50 day moving average is $122.56 and its two-hundred day moving average is $128.12.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $361.50 million during the quarter, compared to analysts’ expectations of $361.56 million. Equities analysts forecast that Inter Parfums will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s dividend payout ratio is 62.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IPAR shares. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, March 17th. Canaccord Genuity Group upped their price target on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, DA Davidson restated a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.80.

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.