Tower Research Capital LLC TRC acquired a new stake in Inter Parfums Inc. (NASDAQ:IPAR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,025 shares of the company’s stock, valued at approximately $115,000.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can purchased a new position in Inter Parfums during the second quarter valued at approximately $111,000. Huntington National Bank increased its position in shares of Inter Parfums by 5.6% in the second quarter. Huntington National Bank now owns 4,679 shares of the company’s stock worth $134,000 after buying an additional 249 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Inter Parfums by 80.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,893 shares of the company’s stock worth $168,000 after buying an additional 2,634 shares during the period. Aperio Group LLC increased its position in shares of Inter Parfums by 41.9% in the first quarter. Aperio Group LLC now owns 12,141 shares of the company’s stock worth $375,000 after buying an additional 3,582 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Inter Parfums by 2.8% in the second quarter. Nationwide Fund Advisors now owns 13,251 shares of the company’s stock worth $379,000 after buying an additional 366 shares during the period. Institutional investors and hedge funds own 54.37% of the company’s stock.
Shares of Inter Parfums Inc. (NASDAQ:IPAR) opened at 32.04 on Thursday. The company’s 50-day moving average price is $32.80 and its 200 day moving average price is $31.06. Inter Parfums Inc. has a 1-year low of $20.37 and a 1-year high of $35.07. The firm has a market cap of $995.16 million, a PE ratio of 34.09 and a beta of 1.68.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Inter Parfums had a net margin of 6.02% and a return on equity of 6.27%. The firm earned $117.20 million during the quarter, compared to the consensus estimate of $116.16 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, analysts predict that Inter Parfums Inc. will post $1.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, September 28th. Inter Parfums’s dividend payout ratio is presently 63.16%.
A number of equities analysts have recently issued reports on the company. B. Riley restated a “buy” rating and set a $40.00 price objective on shares of Inter Parfums in a research report on Wednesday, August 17th. TheStreet upgraded Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Piper Jaffray Cos. restated a “neutral” rating and set a $33.00 price objective (up from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. Citigroup Inc. raised their price objective on Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Inter Parfums has a consensus rating of “Buy” and a consensus target price of $36.71.
In related news, CFO Russell Greenberg sold 12,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.62, for a total value of $426,622.26. Following the completion of the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $103,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry B. Clarke sold 5,582 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $34.50, for a total transaction of $192,579.00. Following the completion of the transaction, the insider now directly owns 2,707 shares of the company’s stock, valued at approximately $93,391.50. The disclosure for this sale can be found here. Insiders own 45.50% of the company’s stock.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.