Algert Global LLC Lowers Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Algert Global LLC cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,156 shares of the company’s stock after selling 5,408 shares during the period. Algert Global LLC owned 0.20% of Inter Parfums worth $8,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IPAR. Victory Capital Management Inc. lifted its holdings in shares of Inter Parfums by 5,393.6% during the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock valued at $47,075,000 after purchasing an additional 356,949 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Inter Parfums by 50.1% during the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after purchasing an additional 106,044 shares during the last quarter. F M Investments LLC purchased a new position in shares of Inter Parfums during the second quarter valued at approximately $9,328,000. Burney Co. purchased a new position in shares of Inter Parfums during the first quarter valued at approximately $5,327,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Inter Parfums by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after purchasing an additional 30,316 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IPAR has been the subject of several recent research reports. DA Davidson reiterated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Tuesday, November 12th. Piper Sandler decreased their price objective on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.50.

Inter Parfums Trading Up 2.6 %

Shares of IPAR stock opened at $134.07 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $156.75. The firm has a fifty day moving average price of $123.92 and a 200-day moving average price of $122.94. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 28.77 and a beta of 1.16.

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

Inter Parfums Company Profile

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.