Advisors Asset Management Inc. Reduces Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Advisors Asset Management Inc. trimmed its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,284 shares of the company's stock after selling 5,022 shares during the quarter. Advisors Asset Management Inc.'s holdings in Inter Parfums were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in IPAR. Victory Capital Management Inc. increased its position 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 worth $47,075,000 after acquiring an additional 356,949 shares in the last quarter. American Century Companies Inc. raised its position in Inter Parfums by 50.1% in 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 bought a new stake in Inter Parfums in the second quarter valued at approximately $9,328,000. Burney Co. bought a new stake in shares of Inter Parfums in the 1st quarter valued at $5,327,000. Finally, Vanguard Group Inc. lifted its stake in shares of Inter Parfums by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company's stock valued at $288,718,000 after buying an additional 30,316 shares in the last quarter. Institutional investors own 55.57% of the company's stock.

Inter Parfums Trading Down 0.7 %

Shares of IPAR traded down $0.91 on Tuesday, hitting $137.48. 152,262 shares of the stock traded hands, compared to its average volume of 145,369. The firm has a market capitalization of $4.40 billion, a P/E ratio of 29.38 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. The stock's 50 day moving average is $124.31 and its two-hundred day moving average is $123.09. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $156.75.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million during the quarter, compared to analysts' expectations of $425.00 million. During the same quarter in the prior year, the business posted $1.66 earnings per share. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Insider Buying and Selling

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 43.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. DA Davidson reissued a "buy" rating and set a $163.00 target price on shares of Inter Parfums in a report on Tuesday, November 12th. StockNews.com raised Inter Parfums from a "sell" rating to a "hold" rating in a report on Wednesday, August 7th. BWS Financial reaffirmed a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. Finally, Piper Sandler decreased their price target on Inter Parfums from $158.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $157.50.

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.