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In a recent transaction reported to the Securities and Exchange Commission, Philippe Benacin, President of Interparfums SA, sold 25,000 shares of Interparfums Inc. (NASDAQ:IPAR) common stock. The shares were sold at an average price of $117.3841, amounting to a total value of approximately $2.93 million. The stock currently trades at $121.02, with InvestingPro analysis indicating the company is slightly undervalued. The company maintains impressive gross profit margins of 55.7% and has shown strong financial health with a "GREAT" overall rating. Following this transaction, Benacin, through his personal holding company, holds 6,846,064 shares of the company’s stock.
In addition to the stock sale, the filing also disclosed several option holdings. Benacin, through his personal holding company, maintains options with the right to purchase additional shares of the company’s common stock. These options, with an exercise price of $73.09, are set to expire on December 30, 2025.
In other recent news, Interparfums Inc. reported a 10% increase in net sales for 2024, reaching $1.452 billion. The company’s earnings per share (EPS) slightly missed projections at $0.75 against a forecasted $0.80, while revenue slightly exceeded expectations at $362 million. Interparfums has also announced a 7% increase in its dividend to $3.20 per share. In a strategic move, Interparfums acquired the intellectual property rights for Maison Goutal, with plans to take over brand development in 2026. Analysts from DA Davidson, Canaccord Genuity, and Piper Sandler have maintained positive ratings on Interparfums, with price targets raised to $170, $168, and $169 respectively, reflecting confidence in the company’s growth potential. Interparfums continues to anticipate growth with several product launches planned, including key brands like Ferragamo and Rochas. The company has also reported a robust free cash flow of approximately $180 million for 2024.
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