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August 16, 2006 Stock Pick: Parlux Fragrances, Inc. (PARL)

Stock Price: $6.36

Parlux Fragrances, Inc. is an international manufacturer and distributor of prestige fragrances and beauty-related products, such as soaps, shower gels, deodorants, body lotions, creams and dusting powders.

PARL reached a 52-week high of $19.24 on February 22nd of this year. The stock split in June and dropped down to as low as as $4.43 this month due to the company delaying its 10-Q filing.

Today, PARL entered into a letter of intent to sell its Perry Ellis fragrance rights for a total of up to $140 million. PARL is trading at a market cap of $115 million and a trailing PE of only 5.90.

If a definitive agreement is executed, PARL will go through the roof.

PARL's float is 79.71% short and the CEO is angry. This will add fuel to the fire.

Parlux holds the licenses for fragrances for Paris Hilton, Maria Sharapova and Andy Roddick. These brands are not connected to to the Perry Ellis rights.

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