Short Interest in Inter Parfums, Inc. (NASDAQ:IPAR) Declines By 20.4%
Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 242,000 shares, a decrease of 20.4% from the September 30th total of 304,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 89,800 shares, the short-interest ratio is currently 2.7 days.
NASDAQ:IPAR traded down $0.31 during mid-day trading on Thursday, hitting $76.80. The company’s stock had a trading volume of 83,900 shares, compared to its average volume of 110,117. Inter Parfums has a 1 year low of $57.37 and a 1 year high of $81.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 2.24. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 3.21 and a beta of 0.88. The business’s fifty day moving average is $72.93 and its two-hundred day moving average is $68.38.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Inter Parfums had a net margin of 8.43% and a return on equity of 10.15%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.18 million. During the same period in the previous year, the company posted $0.60 earnings per share. Inter Parfums’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Inter Parfums will post 1.9 EPS for the current fiscal year.
IPAR has been the topic of several recent research reports. DA Davidson lowered shares of Inter Parfums from a “buy” rating to a “neutral” rating and upped their price target for the company from $78.00 to $82.00 in a report on Thursday, November 7th. ValuEngine lowered shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Citigroup upped their price target on shares of Inter Parfums from $73.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, BidaskClub lowered shares of Inter Parfums from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $77.80.
In related news, CFO Russell Greenberg sold 5,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $70.20, for a total value of $351,000.00. Following the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $351,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 11,933 shares of company stock worth $824,315. 44.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of IPAR. Nuveen Asset Management LLC purchased a new stake in shares of Inter Parfums during the 2nd quarter worth about $6,578,000. Citadel Advisors LLC boosted its stake in shares of Inter Parfums by 186.6% during the 2nd quarter. Citadel Advisors LLC now owns 110,647 shares of the company’s stock worth $7,357,000 after acquiring an additional 72,038 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Inter Parfums by 50.2% during the 2nd quarter. Wells Fargo & Company MN now owns 207,404 shares of the company’s stock worth $13,791,000 after acquiring an additional 69,321 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Inter Parfums by 109.5% during the 2nd quarter. AQR Capital Management LLC now owns 116,622 shares of the company’s stock worth $7,754,000 after acquiring an additional 60,955 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Inter Parfums by 137.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 68,066 shares of the company’s stock worth $4,715,000 after acquiring an additional 39,368 shares in the last quarter. 53.75% of the stock is currently owned by institutional investors and hedge funds.
Inter Parfums Company Profile
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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