Burney Co. Lowers Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Burney Co. cut its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 79.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,697 shares of the company's stock after selling 41,376 shares during the quarter. Burney Co.'s holdings in Inter Parfums were worth $1,407,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IPAR. Park Avenue Securities LLC grew its position in Inter Parfums by 12.8% during the fourth quarter. Park Avenue Securities LLC now owns 2,872 shares of the company's stock valued at $378,000 after buying an additional 326 shares during the period. GAMMA Investing LLC boosted its stake in Inter Parfums by 55.9% in the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company's stock valued at $30,000 after acquiring an additional 81 shares during the last quarter. Synovus Financial Corp grew its position in shares of Inter Parfums by 12.3% during the 3rd quarter. Synovus Financial Corp now owns 4,546 shares of the company's stock valued at $589,000 after acquiring an additional 499 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Inter Parfums during the 3rd quarter worth approximately $259,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Inter Parfums by 50.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,034 shares of the company's stock worth $2,982,000 after purchasing an additional 7,771 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 43.90% of the company's stock.

Inter Parfums Stock Performance

Shares of NASDAQ:IPAR traded up $0.74 during midday trading on Friday, reaching $138.59. 127,175 shares of the company traded hands, compared to its average volume of 112,325. 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 firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 29.74 and a beta of 1.20. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $156.75. The firm's fifty day moving average price is $132.73 and its two-hundred day moving average price is $127.36.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 10.60% and a return on equity of 16.34%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, equities analysts expect that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Analyst Ratings Changes

IPAR has been the subject of several research reports. DA Davidson reissued a "buy" rating and set a $163.00 price objective on shares of Inter Parfums in a report on Wednesday, December 18th. Piper Sandler increased their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. BWS Financial reissued a "buy" rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. Finally, Canaccord Genuity Group started coverage on shares of Inter Parfums in a report on Thursday. They set a "buy" rating and a $158.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Inter Parfums currently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Inter Parfums 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.