Insider Selling: Inter Parfums, Inc. (IPAR) Director Sells 750 Shares of Stock
Inter Parfums, Inc. (NASDAQ:IPAR) Director Patrick Choel sold 750 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $41.59, for a total transaction of $31,192.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Inter Parfums, Inc. (NASDAQ:IPAR) traded up 0.60% during midday trading on Tuesday, hitting $42.20. The company had a trading volume of 59,426 shares. Inter Parfums, Inc. has a 52 week low of $29.40 and a 52 week high of $42.35. The stock has a 50 day moving average price of $39.73 and a 200 day moving average price of $37.33. The company has a market capitalization of $1.32 billion, a P/E ratio of 32.71 and a beta of 1.76.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $129.10 million during the quarter, compared to analyst estimates of $122.57 million. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. Inter Parfums’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities analysts forecast that Inter Parfums, Inc. will post $1.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.68 annualized dividend and a yield of 1.61%. Inter Parfums’s payout ratio is currently 52.31%.
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Several equities research analysts have recently commented on IPAR shares. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Friday, September 1st. BidaskClub lowered shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. DA Davidson reiterated a “buy” rating and set a $45.00 price target (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Inter Parfums currently has a consensus rating of “Buy” and a consensus price target of $42.60.
Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of Inter Parfums by 1.1% in the 1st quarter. Arizona State Retirement System now owns 8,909 shares of the company’s stock worth $326,000 after buying an additional 100 shares during the period. Texas Permanent School Fund increased its stake in shares of Inter Parfums by 1.0% during the second quarter. Texas Permanent School Fund now owns 12,516 shares of the company’s stock valued at $459,000 after buying an additional 129 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Inter Parfums by 3.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,954 shares of the company’s stock valued at $145,000 after buying an additional 136 shares during the period. Rhumbline Advisers increased its stake in shares of Inter Parfums by 0.5% during the second quarter. Rhumbline Advisers now owns 46,668 shares of the company’s stock valued at $1,710,000 after buying an additional 232 shares during the period. Finally, Mason Street Advisors LLC increased its stake in shares of Inter Parfums by 7.0% during the first quarter. Mason Street Advisors LLC now owns 4,001 shares of the company’s stock valued at $146,000 after buying an additional 263 shares during the period. 55.61% of the stock is owned by institutional investors and hedge funds.
Inter Parfums Company Profile
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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