Torres Robert Bensoussan Sells 6,000 Shares of Inter Parfums, Inc. (IPAR) Stock

Inter Parfums, Inc. (NASDAQ:IPAR) Director Torres Robert Bensoussan sold 6,000 shares of Inter Parfums stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $42.09, for a total value of $252,540.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Inter Parfums, Inc. (NASDAQ:IPAR) traded up 0.12% during midday trading on Thursday, reaching $42.00. The company’s stock had a trading volume of 66,630 shares. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 32.56 and a beta of 1.76. The company has a 50 day moving average price of $40.29 and a 200 day moving average price of $37.51. Inter Parfums, Inc. has a 1-year low of $29.40 and a 1-year high of $42.55.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Monday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $129.10 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.19 EPS. On average, equities research analysts expect that Inter Parfums, Inc. will post $1.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 28th. Inter Parfums’s dividend payout ratio (DPR) is 52.31%.

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Several hedge funds have recently bought and sold shares of IPAR. Atlanta Capital Management Co. L L C boosted its holdings in shares of Inter Parfums by 14.0% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock worth $42,825,000 after purchasing an additional 143,072 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Inter Parfums by 227.9% during the second quarter. Systematic Financial Management LP now owns 178,344 shares of the company’s stock worth $6,536,000 after purchasing an additional 123,954 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Inter Parfums by 20.4% during the second quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock worth $21,999,000 after purchasing an additional 101,565 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Inter Parfums by 37.1% during the second quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock worth $12,597,000 after purchasing an additional 93,100 shares during the last quarter. Finally, Fort Pitt Capital Group LLC boosted its holdings in shares of Inter Parfums by 31.6% during the second quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock worth $14,183,000 after purchasing an additional 92,965 shares during the last quarter. Institutional investors and hedge funds own 55.61% of the company’s stock.

A number of brokerages recently commented on IPAR. DA Davidson reiterated a “buy” rating and set a $45.00 price objective (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Zacks Investment Research downgraded Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Citigroup Inc. reiterated a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, BidaskClub upgraded Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $42.60.

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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