Algert Global LLC Reduces Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Algert Global LLC trimmed its holdings in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 65,156 shares of the company's stock after selling 5,408 shares during the period. Algert Global LLC owned approximately 0.20% of Inter Parfums worth $8,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPAR. CWM LLC boosted its position in shares of Inter Parfums by 44.4% during the 2nd quarter. CWM LLC now owns 286 shares of the company's stock worth $33,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. grew its stake in shares of Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company's stock valued at $84,000 after buying an additional 296 shares in the last quarter. Mendota Financial Group LLC acquired a new position in Inter Parfums during the 2nd quarter worth about $89,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the 3rd quarter valued at about $209,000. Finally, Choreo LLC acquired a new position in Inter Parfums in the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 55.57% of the company's stock.

Inter Parfums Stock Up 2.6 %

NASDAQ IPAR traded up $3.41 on Friday, hitting $134.07. 169,132 shares of the stock were exchanged, compared to its average volume of 160,007. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a 50-day moving average price of $123.92 and a 200-day moving average price of $122.97. 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 company has a market cap of $4.29 billion, a PE ratio of 28.77 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping 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 firm had revenue of $425.00 million during the quarter, compared to the consensus estimate of $425.00 million. During the same quarter in the previous year, the firm posted $1.66 earnings per share. The company's revenue was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.