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 Inter Parfums 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 owns 5,500 shares in the company, valued at approximately $215,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Inter Parfums, Inc. (IPAR) traded up 0.39% during mid-day trading on Wednesday, hitting $38.85. 55,765 shares of the stock were exchanged. Inter Parfums, Inc. has a 12 month low of $29.40 and a 12 month high of $41.70. The stock’s 50 day moving average is $37.57 and its 200 day moving average is $36.18. The firm has a market cap of $1.21 billion, a P/E ratio of 30.12 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The business had revenue of $129.10 million for the quarter, compared to the consensus estimate of $122.57 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts expect that Inter Parfums, Inc. will post $1.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s payout ratio is currently 52.31%.
A number of large investors have recently modified their holdings of IPAR. SG Americas Securities LLC bought a new stake in shares of Inter Parfums during the first quarter worth $107,000. US Bancorp DE increased its stake in shares of Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock worth $116,000 after buying an additional 995 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Inter Parfums by 68.9% in the second quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after buying an additional 1,296 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Inter Parfums by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after buying an additional 1,490 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock worth $127,000 after buying an additional 985 shares during the last quarter. 54.10% of the stock is currently owned by institutional investors.
IPAR has been the topic of a number of research reports. BidaskClub upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a report on Thursday, July 20th. Jefferies Group LLC initiated coverage on shares of Inter Parfums in a report on Friday, June 2nd. They set a “hold” rating and a $35.00 target price on the stock. DA Davidson restated a “buy” rating and set a $44.00 target price on shares of Inter Parfums in a report on Monday, May 8th. Finally, Citigroup Inc. restated a “buy” rating and set a $45.00 target price (up previously from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Inter Parfums presently has a consensus rating of “Buy” and a consensus price target of $42.00.
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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