Inter Parfums, Inc. (NASDAQ:IPAR) Short Interest Up 15.7% in September

Inter Parfums, Inc. (NASDAQ:IPAR) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 714,500 shares, a growth of 15.7% from the August 31st total of 617,500 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily volume of 152,300 shares, the days-to-cover ratio is currently 4.7 days.

Insider Activity at Inter Parfums

In other Inter Parfums 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 value of $188,940.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 43.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inter Parfums

Several hedge funds have recently modified their holdings of the stock. Whittier Trust Co. purchased a new stake in shares of Inter Parfums during the first quarter worth about $31,000. CWM LLC raised its position in shares of Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Inter Parfums by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 121 shares during the last quarter. TFO Wealth Partners LLC grew its position in shares of Inter Parfums by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $83,000 after buying an additional 574 shares in the last quarter. Finally, Mendota Financial Group LLC bought a new stake in shares of Inter Parfums in the second quarter worth $89,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Inter Parfums Price Performance

Shares of IPAR stock traded up $1.24 during mid-day trading on Monday, reaching $129.48. The stock had a trading volume of 171,876 shares, compared to its average volume of 145,223. The company has a market cap of $4.15 billion, a P/E ratio of 29.83 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The business has a 50-day simple moving average of $126.46 and a 200 day simple moving average of $124.29.

Inter Parfums (NASDAQ:IPAR) last issued 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 business had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $151.00 price objective (up previously from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Friday, July 12th. Finally, DA Davidson reissued a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.