Victory Capital Management Inc. Acquires 356,949 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Victory Capital Management Inc. increased its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 5,393.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,567 shares of the company's stock after buying an additional 356,949 shares during the period. Victory Capital Management Inc. owned 1.14% of Inter Parfums worth $47,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPAR. ProShare Advisors LLC raised its holdings in Inter Parfums by 7.4% in the first quarter. ProShare Advisors LLC now owns 3,692 shares of the company's stock worth $519,000 after purchasing an additional 255 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Inter Parfums by 7.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 5,633 shares of the company's stock worth $801,000 after acquiring an additional 390 shares during the period. Vanguard Group Inc. boosted its position in Inter Parfums by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company's stock worth $288,718,000 after purchasing an additional 30,316 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Inter Parfums in the first quarter valued at about $474,000. Finally, Cynosure Group LLC purchased a new stake in shares of Inter Parfums during the first quarter worth approximately $310,000. Institutional investors own 55.57% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Trading Down 4.6 %

IPAR stock traded down $6.07 on Friday, hitting $124.65. 168,309 shares of the company were exchanged, compared to its average volume of 145,819. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The business's fifty day moving average is $122.71 and its two-hundred day moving average is $122.62. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 26.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results 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 the consensus estimate of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, research analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share 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.