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

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) was the recipient of a large drop in short interest during 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. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 146,200 shares, the days-to-cover ratio is presently 2.4 days.

Insider Buying and Selling

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly 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 can be accessed through this hyperlink. 43.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inter Parfums

A number of institutional investors have recently added to or reduced their stakes in IPAR. Victory Capital Management Inc. lifted its stake 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 holdings in Inter Parfums by 0.7% in the fourth quarter. Comerica Bank now owns 11,360 shares of the company's stock valued at $1,636,000 after buying an additional 83 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Inter Parfums by 0.8% during the third quarter. Teacher Retirement System of Texas now owns 12,809 shares of the company's stock valued at $1,721,000 after purchasing an additional 100 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Inter Parfums by 4.9% during the fourth quarter. Fifth Third Bancorp now owns 2,567 shares of the company's stock valued at $370,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on IPAR. BWS Financial reissued a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler dropped their price target on Inter Parfums from $176.00 to $172.00 and set an "overweight" rating for the company in a research report on Thursday, April 25th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $192.00 price objective on shares of Inter Parfums in a research report on Friday.

Inter Parfums Trading Down 1.2 %

Shares of NASDAQ:IPAR traded down $1.41 during midday trading on Tuesday, reaching $116.38. The company's stock had a trading volume of 145,411 shares, compared to its average volume of 141,117. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 24.39 and a beta of 1.13. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums has a 1 year low of $115.58 and a 1 year high of $156.75. The business has a 50 day moving average price of $135.92 and a 200 day moving average price of $135.34.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $328.74 million for the quarter, compared to analysts' expectations of $329.00 million. During the same period last year, the firm posted $0.71 EPS. Inter Parfums's revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.58%. 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. Inter Parfums's 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.