During August, there was a significant drop in the number of short positions taken in shares of Inter Parfums, Inc. (NASDAQ: IPAR). There were 306,900 shares available for quick sale as of August 31. This is a 19.0% decline from the 378,800 shares offered for a short sale the day before. Based on an average daily trading volume of 85,400 shares, the current short-interest ratio is calculated to be 3.6 days. Short sales make up approximately 1.7% of the total number of shares actively traded in the firm.
In recent months, institutional investors have been active in the share markets of various companies, buying and selling shares.
Fifth Third Bancorp increased its ownership of Inter Parfums by 91.4% during the first three months of the fiscal year by purchasing new shares. During the most recent reporting period, Fifth Third Bancorp grew its holdings in the company’s stock by 139 shares, bringing the total number of shares it holds to 291, with a value of $26,000. Federated Hermes Inc. increased its stake in Inter Parfums by 131.6% during the second quarter, bringing the total number of shares it owns in the company to 7.8 million. Federated Hermes Inc. currently possesses 528 shares of the company’s stock, valued at $39,000. This is because it acquired an additional 300 shares over the period, bringing the total number of shares it possesses up to 528.
During the first three months of the fiscal year, Meeder Asset Management, Inc. made a new investment in Inter Parfums of $64,000. During the second quarter, FinTrust Capital Advisors LLC increased the number of Inter Parfums shares that it owned by 92.0 percentage points. After purchasing an additional 460 shares of the company throughout the most recent quarter, FinTrust Capital Advisors LLC has a total ownership interest in the company equal to 960 shares worth $78,000. This brings the total number of shares owned by the company to 960. Last but not least, First Horizon Advisors Inc. increased the number of Inter Parfums shares that it owned by 1,872.6% during the second quarter.
This certainly should not be considered the least important development. First Horizon Advisors Inc. now has a total of 1,440 shares of the company’s stock, collectively valued at $105,000. This comes from the company’s having made an additional purchase of 1,367 shares during the quarter. Institutional investors own the company’s shares to 55.58% of the total. Additionally, on August 22, Director Veronique Gabai-Pinsky sold 2,000 shares of the company’s stock in a transaction recorded in the company’s books. The total amount received for the sale of the shares was $164,800.00. This equates to an average price of $82.42 per share for each share purchased. This page contains the filing containing the information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the file by clicking here. Russell Greenberg, Chief Financial Officer of Inter Parfums, sold 9,016 shares of the firm’s stock on Monday, July 25.
This is another piece of relevant information regarding the company. The price received for each share sold was an average of $81.25, and the selling of the stock resulted in a total of $732,550.00 being received. As a direct consequence of the transaction, the chief financial officer now owns 7,500 shares of company stock, which together are worth a total of $609,375. Following the link that has been supplied will take you to the legal file kept by the Securities and Exchange Commission (SEC). In this file, you will find information about the transaction that has been kept there. In addition, Veronique Gabai-Pinsky, who is a director of the company, sold 2,000 shares of the company’s stock on August 22. The shares were sold for $164,800, equivalent to a price per share of $82.42 when originally purchased.
Disclosures that are related to the sale might be found in this section of the website. 44 Within the previous ninety days, corporate insiders sold 13,505 company stocks for a total value of $1,092,801. Corporation insiders own 20% of the total number of shares outstanding in the company. Several market analysts have recently expressed their thoughts on the IPAR stock, which can be found in a recent commentary. On September 9, Piper Sandler published her first report on Inter Parfums, marking the beginning of her company coverage. They expected the share price to rise to $102 in the future and gave it an “overweight” rating overall. The rating given to Inter Parfums by TheStreet was raised from “c+” to “b-” as a result of a study made available to the public on Monday, August 15.
DA Davidson boosted their price target on Inter Parfums from $87.00 to $94.00 and upgraded the stock from a “buy” rating to a “strong-buy” rating in a report released on Tuesday, July 26. The stock has been given a buy recommendation by four research analysts, while one of the experts has assigned it a hold rating. According to Bloomberg.com, the firm is now rated as a “Moderate Buy,” Most market participants have set a price objective of $105.00 for the stock. This information comes from the site’s analysis of the stock market.
Shares of Inter Parfums were first made available on Friday at $78.93 per share. A debt-to-equity ratio of 0.16 can be found, while the current ratio comes in at 2.89, and the quick ratio sits at 1.76. The company has a price-to-earnings ratio of 25.30 and a beta value of 1.01. Its market capitalization is equal to $2.51 billion at the moment. During the previous year, the price of Inter Parfums fluctuated between $64.52 and $108.35, with a low point of $64.52 and a high point of $108.35. The simple moving average of the company’s stock price for the past 50 days is $80.24, while the simple moving average of its stock price over the past 200 days is $79.04. On August 9, Inter Parfums (NASDAQ: IPAR) released its report on the company’s financial performance to the public.
The firm reported earnings per share for the quarter as $0.86, which is $0.10 lower than the consensus estimate of $0.96 per share. The company reported an overall sales figure for $244.70 million, which is significantly more than the consensus expectation of $215.78 million for the period’s sales. Inter Parfums’ return on equity was 13.43%, and the net margin for the company was 10.32%. In their most recent quarterly report, Inter Parfums reported a 17.9% increase in revenue compared to the same quarter the previous fiscal year. During the same period as the previous year, the firm made a profit of $0.71 for every outstanding share of stock during the period in question. According to projections made by sell-side analysts, Inter Parfums is expected to have a profit of $3.26 per share for the current fiscal year, according to projections.