Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Update

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 377,500 shares, a drop of 12.9% from the March 15th total of 433,600 shares. Based on an average daily volume of 141,500 shares, the short-interest ratio is presently 2.7 days. Currently, 2.1% of the company's shares are sold short.

Inter Parfums Stock Down 1.8 %

NASDAQ:IPAR traded down $2.30 during trading hours on Friday, hitting $126.38. 102,430 shares of the stock traded hands, compared to its average volume of 162,855. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 26.61 and a beta of 1.13. The firm has a 50 day moving average price of $141.37 and a 200 day moving average price of $135.88. 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 fifty-two week low of $120.71 and a fifty-two week high of $161.17.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released 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). The firm had revenue of $328.74 million for 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%. Inter Parfums's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Equities research analysts anticipate that Inter Parfums will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.37%. 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

Separately, Piper Sandler lifted their target price on Inter Parfums from $175.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th.

Insiders Place Their Bets

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value 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 approximately $150,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Inter Parfums by 17.1% during the first quarter. JPMorgan Chase & Co. now owns 114,363 shares of the company's stock valued at $10,069,000 after purchasing an additional 16,670 shares during the last quarter. American Century Companies Inc. boosted its position in Inter Parfums by 21.1% in the 1st quarter. American Century Companies Inc. now owns 16,915 shares of the company's stock valued at $1,489,000 after buying an additional 2,949 shares during the last quarter. Citigroup Inc. boosted its position in Inter Parfums by 10.0% in the 1st quarter. Citigroup Inc. now owns 15,487 shares of the company's stock valued at $1,364,000 after buying an additional 1,412 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Inter Parfums by 51.4% in the 1st quarter. MetLife Investment Management LLC now owns 9,932 shares of the company's stock valued at $875,000 after buying an additional 3,372 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Inter Parfums by 5.0% during the first quarter. Rhumbline Advisers now owns 55,065 shares of the company's stock worth $4,848,000 after acquiring an additional 2,604 shares during the last quarter. Institutional investors own 55.57% of the company's stock.

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.

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