Intech Investment Management LLC Raises Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Intech Investment Management LLC increased its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 125.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,479 shares of the company's stock after acquiring an additional 4,160 shares during the period. Intech Investment Management LLC's holdings in Inter Parfums were worth $968,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Inter Parfums by 5,393.6% in the 3rd quarter. Victory Capital Management Inc. now owns 363,567 shares of the company's stock worth $47,075,000 after buying an additional 356,949 shares during the last quarter. American Century Companies Inc. boosted its holdings in Inter Parfums by 50.1% in the 2nd quarter. American Century Companies Inc. now owns 317,556 shares of the company's stock worth $36,846,000 after buying an additional 106,044 shares during the last quarter. F M Investments LLC acquired a new stake in Inter Parfums in the 2nd quarter worth about $9,328,000. Burney Co. acquired a new stake in Inter Parfums in the 1st quarter worth about $5,327,000. Finally, Squarepoint Ops LLC boosted its holdings in Inter Parfums by 541.7% in the 2nd quarter. Squarepoint Ops LLC now owns 29,056 shares of the company's stock worth $3,371,000 after buying an additional 24,528 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IPAR. StockNews.com upgraded Inter Parfums from a "sell" rating to a "hold" rating in a report on Wednesday, August 7th. DA Davidson restated a "buy" rating and set a $163.00 target price on shares of Inter Parfums in a report on Tuesday, November 12th. Piper Sandler lowered their target price on Inter Parfums from $158.00 to $155.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, BWS Financial restated a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Inter Parfums has a consensus rating of "Moderate Buy" and a consensus target price of $157.50.

Insider Buying and Selling

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 43.90% of the stock is currently owned by corporate insiders.

Inter Parfums Stock Performance

Shares of NASDAQ:IPAR traded up $0.61 on Thursday, reaching $138.09. The company's stock had a trading volume of 124,139 shares, compared to its average volume of 145,276. The stock's 50-day moving average is $125.08 and its two-hundred day moving average is $123.31. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $156.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The stock has a market capitalization of $4.42 billion, a P/E ratio of 29.63 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 EPS 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 business had revenue of $425.00 million during the quarter, compared to analysts' expectations of $425.00 million. During the same period in the prior year, the company earned $1.66 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Inter Parfums, Inc. will post 5.15 EPS for the current year.

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.