Inter Parfums, Inc. (NASDAQ:IPAR) short interest fell 5.3% in August

Inter Parfums, Inc. (NASDAQ:IPAR – Get Free Report ) received a significant drop in short interest in August. As of August 15th, there was short interest totaling 612,000 shares, a decrease of 5.3% from the July 31st total of 646,500 shares. Based on an average trading volume of 148,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.4% of the stock’s shares are short sold.

Insiders place their bets

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 transaction of $188,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 43.90% of the company’s shares.

Hedge funds influence Inter Parfums

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Inter Parfums by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 11,393 shares of the company’s stock valued at $1,641,000 after purchasing an additional 81 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Inter Parfums by 17.8% during the 4th quarter. Benjamin Edwards Inc. now owns 1,047 shares of the company’s stock worth $151,000 after purchasing an additional 158 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Inter Parfums by 273.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 351 shares of the company’s stock valued at $51,000 after acquiring an additional 257 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in Inter Parfums during the fourth quarter valued at approximately $205,000. Finally, Wealthspire Advisors LLC purchased a new position in Inter Parfums in the fourth quarter valued at about $200,000. Hedge funds and other institutional investors own 55.57% of the company’s shares.

Inter Parfums stock performance

Shares of Inter Parfums stock opened at $128.84 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58, and a quick ratio of 1.27. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 29.69 and a beta of 1.18. The company has a 50-day moving average of $125.74 and a 200-day moving average of $127.80.

Inter Parfums (NASDAQ:IPAR – Get Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $342.00 million during the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. Inter Parfums’ revenue for the quarter was up 10.7% year over year. During the same period in the prior year, the business earned $1.09 EPS. As a group, sell-side analysts forecast that Inter Parfums will post 5.15 earnings per share for the current year.

Changes in Analyst Ratings

Several analysts recently weighed in on IPAR shares. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Thursday, August 8th. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. DA Davidson restated a “buy” rating and set a $192.00 target price on shares of Inter Parfums in a report on Wednesday, August 7th. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Friday, July 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, 23 July. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.75, according to MarketBeat.com.

Check out our latest research report on Inter Parfums

About Inter Parfums

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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, Operations based in Europe and Operations based in the United States. The company offers its perfumes and cosmetics under Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, ST

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