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

Inter Parfums, Inc. (NASDAQ:IPAR) saw a significant drop in short interest in 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. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 141,500 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity at Inter Parfums

In related 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 transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 43.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inter Parfums

A number of large investors have recently made changes to their positions in IPAR. JPMorgan Chase & Co. grew its holdings 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 buying an additional 16,670 shares during the last quarter. American Century Companies Inc. lifted its position in Inter Parfums by 21.1% during the first quarter. American Century Companies Inc. now owns 16,915 shares of the company’s stock valued at $1,489,000 after purchasing an additional 2,949 shares during the period. Citigroup Inc. lifted its position in Inter Parfums by 10.0% during the first quarter. Citigroup Inc. now owns 15,487 shares of the company’s stock valued at $1,364,000 after purchasing an additional 1,412 shares during the period. MetLife Investment Management LLC lifted its position in Inter Parfums by 51.4% during the first quarter. MetLife Investment Management LLC now owns 9,932 shares of the company’s stock valued at $875,000 after purchasing an additional 3,372 shares during the period. Finally, Rhumbline Advisers lifted its position in Inter Parfums by 5.0% during the first quarter. Rhumbline Advisers now owns 55,065 shares of the company’s stock valued at $4,848,000 after purchasing an additional 2,604 shares during the period. 55.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Inter Parfums Price Performance

NASDAQ IPAR opened at $124.93 on Tuesday. The firm’s fifty day simple moving average is $140.98 and its two-hundred day simple moving average is $135.80. 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 $120.71 and a 12-month high of $161.17. The firm has a market capitalization of $4.00 billion, a P/E ratio of 26.30 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $328.74 million for the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. Inter Parfums’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. Analysts forecast that Inter Parfums will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. 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.