Short Interest in Inter Parfums, Inc. (NASDAQ:IPAR) Declines By 5.5%

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

Inter Parfums Stock Down 0.7 %

NASDAQ:IPAR traded down $0.83 during mid-day trading on Tuesday, reaching $116.96. The stock had a trading volume of 34,613 shares, compared to its average volume of 140,093. 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 stock’s 50 day simple moving average is $135.92 and its two-hundred day simple moving average is $135.34. Inter Parfums has a 1-year low of $115.58 and a 1-year high of $156.75. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 24.39 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last posted its 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). The company had revenue of $328.74 million for the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.56%. Inter Parfums’s payout ratio is currently 63.16%.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 43.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inter Parfums

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC acquired a new position in shares of Inter Parfums during the fourth quarter worth approximately $6,624,000. WCM Investment Management LLC boosted its position in shares of Inter Parfums by 9.3% during the fourth quarter. WCM Investment Management LLC now owns 200,336 shares of the company’s stock worth $29,592,000 after buying an additional 17,079 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Inter Parfums during the third quarter worth approximately $2,199,000. State of New Jersey Common Pension Fund D boosted its position in shares of Inter Parfums by 13.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,412 shares of the company’s stock worth $2,940,000 after buying an additional 2,461 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Inter Parfums by 94.4% during the third quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock worth $37,136,000 after buying an additional 134,243 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BWS Financial restated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler lowered their target price on 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, DA Davidson reiterated a “buy” rating and issued a $192.00 price target on shares of Inter Parfums in a research note on Friday.

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.