Rice Hall James & Associates LLC reduced its position in shares of Inter Parfums Inc. (NASDAQ:IPAR) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 61,616 shares of the company’s stock after selling 1,480 shares during the period. Rice Hall James & Associates LLC’s holdings in Inter Parfums were worth $1,760,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Inter Parfums during the second quarter worth about $111,000. BNP Paribas Arbitrage SA raised its stake in 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 raised its stake in 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. Independent Portfolio Consultants Inc. raised its stake in Inter Parfums by 36.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 15,155 shares of the company’s stock worth $433,000 after buying an additional 4,030 shares during the period. Finally, Strs Ohio raised its stake in Inter Parfums by 7.0% in the second quarter. Strs Ohio now owns 24,400 shares of the company’s stock worth $697,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 54.37% of the company’s stock.
Inter Parfums Inc. (NASDAQ:IPAR) traded down 0.93% on Friday, hitting $33.12. The stock had a trading volume of 105,324 shares. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 35.23 and a beta of 1.68. Inter Parfums Inc. has a one year low of $20.37 and a one year high of $35.07. The company’s 50-day moving average price is $32.96 and its 200 day moving average price is $31.01.
Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm earned $117.20 million during the quarter, compared to analysts’ expectations of $116.16 million. Inter Parfums had a return on equity of 6.27% and a net margin of 6.02%. Inter Parfums’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. Analysts expect that Inter Parfums Inc. will post $1.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.60 annualized dividend and a yield of 1.81%. Inter Parfums’s dividend payout ratio is presently 63.16%.
A number of equities research analysts have recently issued reports on the company. B. Riley restated a “buy” rating and issued a $40.00 price target 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 issued a $33.00 price target (up from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. Citigroup Inc. upped their price target on Inter Parfums from $35.00 to $40.00 and gave the company 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Inter Parfums has a consensus rating of “Buy” and an average target price of $36.71.
In related news, CFO Russell Greenberg sold 12,323 shares of Inter Parfums stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.62, for a total transaction of $426,622.26. Following the completion of the transaction, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at $103,860. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Henry B. Clarke sold 12,418 shares of Inter Parfums stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.51, for a total value of $428,545.18. Following the transaction, the insider now directly owns 9,125 shares of the company’s stock, valued at $314,903.75. The disclosure for this sale can be found here. Corporate 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.