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

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 598,400 shares, a decrease of 10.1% from the September 30th total of 665,500 shares. Based on an average daily trading volume, of 137,200 shares, the short-interest ratio is presently 4.4 days. Currently, 3.3% of the shares of the stock are short sold.

Insider Activity

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 43.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC raised its stake in shares of Inter Parfums by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company's stock valued at $37,000 after acquiring an additional 121 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Inter Parfums by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 33,403 shares of the company's stock valued at $4,693,000 after buying an additional 4,059 shares during the period. Whittier Trust Co. acquired a new position in shares of Inter Parfums during the first quarter worth about $31,000. Texas Permanent School Fund Corp grew its position in shares of Inter Parfums by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 15,674 shares of the company's stock worth $2,202,000 after buying an additional 203 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Inter Parfums by 476.0% during the first quarter. Quantbot Technologies LP now owns 2,932 shares of the company's stock worth $412,000 after buying an additional 2,423 shares during the period. Hedge funds and other institutional investors own 55.57% of the company's stock.

Wall Street Analysts Forecast Growth

IPAR has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $151.00 price target (up previously from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. StockNews.com raised shares of Inter Parfums from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. Jefferies Financial Group raised shares of Inter Parfums from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Friday, July 12th. DA Davidson reaffirmed a "buy" rating and set a $163.00 price target on shares of Inter Parfums in a research report on Tuesday, October 22nd. Finally, BWS Financial reiterated a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Inter Parfums Trading Down 0.7 %

Shares of IPAR stock traded down $0.92 during trading hours on Wednesday, hitting $124.08. The company had a trading volume of 111,991 shares, compared to its average volume of 142,824. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The stock has a market capitalization of $3.97 billion, a PE ratio of 28.80 and a beta of 1.15. The company's fifty day moving average is $122.37 and its 200 day moving average is $122.43. Inter Parfums has a fifty-two week low of $108.39 and a fifty-two week high of $156.75.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The firm had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts expect that Inter Parfums will post 5.17 earnings per share for the current fiscal year.

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.