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

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 769,000 shares, a decline of 15.1% from the February 28th total of 906,300 shares. Based on an average daily trading volume, of 202,700 shares, the short-interest ratio is presently 3.8 days. Approximately 4.3% of the shares of the company are short sold.

Inter Parfums Trading Down 0.1 %

Shares of IPAR stock traded down $0.17 during trading hours on Wednesday, reaching $113.74. The company had a trading volume of 125,955 shares, compared to its average volume of 164,046. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 24.41 and a beta of 1.18. The company has a 50 day moving average of $132.94 and a 200 day moving average of $129.97.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, February 25th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. On average, equities research analysts anticipate that Inter Parfums will post 5.14 EPS for the current year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 2.81%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. Inter Parfums’s payout ratio is currently 62.87%.

Institutional Investors Weigh In On Inter Parfums

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IPAR shares. Canaccord Genuity Group raised their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Monday, March 17th. DA Davidson reaffirmed a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. Finally, Piper Sandler lifted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.