Russell Greenberg Sells 2,500 Shares of Inter Parfums, Inc. (IPAR) Stock
Inter Parfums, Inc. (NASDAQ:IPAR) CFO Russell Greenberg sold 2,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $39.10, for a total transaction of $97,750.00. Following the completion of the sale, the chief financial officer now directly owns 5,500 shares in the company, valued at $215,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Inter Parfums, Inc. (NASDAQ:IPAR) traded up 0.39% during midday trading on Wednesday, hitting $38.85. 55,765 shares of the stock were exchanged. Inter Parfums, Inc. has a 1-year low of $29.40 and a 1-year high of $41.70. The company’s 50 day moving average is $37.57 and its 200-day moving average is $36.18. The stock has a market cap of $1.21 billion, a PE ratio of 30.12 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Monday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $129.10 million for the quarter, compared to analysts’ expectations of $122.57 million. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that Inter Parfums, Inc. will post $1.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s dividend payout ratio (DPR) is currently 52.31%.
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IPAR has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, May 1st. DA Davidson reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Inter Parfums in a research note on Monday, May 8th. Jefferies Group LLC initiated coverage on shares of Inter Parfums in a research note on Friday, June 2nd. They issued a “hold” rating and a $35.00 price objective on the stock. BidaskClub raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.00.
Hedge funds have recently added to or reduced their stakes in the stock. Atlanta Capital Management Co. L L C boosted its stake in Inter Parfums by 14.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock valued at $42,825,000 after buying an additional 143,072 shares during the period. Systematic Financial Management LP boosted its stake in Inter Parfums by 227.9% in the second quarter. Systematic Financial Management LP now owns 178,344 shares of the company’s stock valued at $6,536,000 after buying an additional 123,954 shares during the period. Royce & Associates LP boosted its stake in Inter Parfums by 20.4% in the second quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock valued at $21,999,000 after buying an additional 101,565 shares during the period. Renaissance Technologies LLC boosted its stake in Inter Parfums by 37.1% in the second quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock valued at $12,597,000 after buying an additional 93,100 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Inter Parfums by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,648,533 shares of the company’s stock valued at $60,254,000 after buying an additional 89,133 shares during the period. Institutional investors and hedge funds own 54.10% of the company’s stock.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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