Intech Investment Management LLC Acquires 4,160 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Intech Investment Management LLC grew its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 125.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,479 shares of the company’s stock after buying an additional 4,160 shares during the quarter. Intech Investment Management LLC’s holdings in Inter Parfums were worth $968,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its position in Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. lifted its position in Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after buying an additional 296 shares during the last quarter. Mendota Financial Group LLC bought a new position in Inter Parfums during the second quarter valued at $89,000. Crossmark Global Holdings Inc. bought a new stake in shares of Inter Parfums in the 3rd quarter worth about $209,000. Finally, Choreo LLC purchased a new stake in Inter Parfums in the 2nd quarter worth about $213,000. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Price Performance

Shares of IPAR opened at $138.09 on Thursday. The company has a 50 day moving average of $124.70 and a two-hundred day moving average of $123.20. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 29.50 and a beta of 1.16. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The firm had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 EPS. As a group, analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IPAR. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler dropped their target price on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research note on Tuesday, November 12th. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.50.

Insider Buying and Selling

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is owned by company insiders.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.