Laurus Investment Counsel Inc. Makes New $1.14 Million Investment in Inter Parfums, Inc. (NASDAQ:IPAR)

Laurus Investment Counsel Inc. purchased a new stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,670 shares of the company's stock, valued at approximately $1,140,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in shares of Inter Parfums by 12.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,322 shares of the company's stock worth $267,000 after acquiring an additional 266 shares during the period. Bank of Montreal Can lifted its stake in Inter Parfums by 2.5% in the 2nd quarter. Bank of Montreal Can now owns 5,924 shares of the company's stock valued at $708,000 after purchasing an additional 142 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Inter Parfums by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,888 shares of the company's stock valued at $1,263,000 after purchasing an additional 286 shares during the last quarter. Truist Financial Corp lifted its stake in Inter Parfums by 5.5% in the 2nd quarter. Truist Financial Corp now owns 16,768 shares of the company's stock valued at $1,946,000 after purchasing an additional 871 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Inter Parfums by 163.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 15,263 shares of the company's stock valued at $1,771,000 after purchasing an additional 9,467 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.

Inter Parfums Trading Up 0.4 %

Shares of IPAR traded up $0.55 during trading hours on Wednesday, hitting $138.35. 44,848 shares of the stock were exchanged, compared to its average volume of 108,011. 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 debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The business has a 50-day moving average of $135.51 and a 200-day moving average of $129.25. The firm has a market capitalization of $4.43 billion, a P/E ratio of 29.69 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.10. The company had revenue of $425.00 million during the quarter, compared to analysts' expectations of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Inter Parfums's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, research analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current year.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 43.90% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on IPAR. Piper Sandler increased their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, January 27th. DA Davidson reaffirmed a "buy" rating and set a $163.00 price target on shares of Inter Parfums in a research note on Thursday, January 23rd. Finally, Canaccord Genuity Group started coverage on shares of Inter Parfums in a research note on Thursday, January 16th. They set a "buy" rating and a $158.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.40.

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.