PineStone Asset Management Inc. Buys 16,000 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

PineStone Asset Management Inc. boosted its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,384 shares of the company's stock after acquiring an additional 16,000 shares during the period. PineStone Asset Management Inc. owned approximately 0.34% of Inter Parfums worth $14,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPAR. CWM LLC boosted its holdings in shares of Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company's stock worth $33,000 after acquiring an additional 88 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Inter Parfums by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company's stock worth $390,000 after buying an additional 92 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Inter Parfums by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company's stock valued at $1,044,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in shares of Inter Parfums by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 5,378 shares of the company's stock valued at $624,000 after acquiring an additional 105 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Inter Parfums by 3.9% in the 3rd quarter. Inspire Investing LLC now owns 3,208 shares of the company's stock worth $415,000 after purchasing an additional 120 shares during the period. 55.57% of the stock is currently owned by institutional investors.

Inter Parfums Stock Performance

Inter Parfums stock traded up $0.62 during trading hours on Friday, hitting $121.69. The company had a trading volume of 232,655 shares, compared to its average volume of 143,414. The firm has a 50-day moving average of $122.32 and a 200 day moving average of $122.43. The firm has a market cap of $3.90 billion, a PE ratio of 27.93 and a beta of 1.15. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $156.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company had revenue of $342.00 million for the quarter, compared to analysts' expectations of $342.00 million. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Inter Parfums's revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Inter Parfums, Inc. will post 5.17 earnings per share for the current year.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 43.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Inter Parfums from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Friday, July 12th. DA Davidson restated a "buy" rating and set a $163.00 price objective on shares of Inter Parfums in a research note on Tuesday, October 22nd. Piper Sandler restated an "overweight" rating and set a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Inter Parfums from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. Finally, BWS Financial restated a "buy" rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.50.

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.