Wellington Management Group LLP Increases Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Wellington Management Group LLP grew its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 44.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 323,863 shares of the company's stock after acquiring an additional 99,316 shares during the quarter. Wellington Management Group LLP owned about 1.01% of Inter Parfums worth $41,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IPAR. CWM LLC boosted its position in shares of Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company's stock valued at $33,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Inter Parfums by 83.4% during the third quarter. Blue Trust Inc. now owns 651 shares of the company's stock valued at $84,000 after buying an additional 296 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of Inter Parfums during the third quarter valued at $104,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Inter Parfums during the third quarter valued at $209,000. Finally, Choreo LLC purchased a new stake in shares of Inter Parfums during the second quarter valued at $213,000. 55.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler raised their target price on Inter Parfums from $155.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. DA Davidson reissued a "buy" rating and issued a $163.00 target price on shares of Inter Parfums in a research report on Tuesday, December 3rd. Finally, BWS Financial reissued a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $159.75.

Inter Parfums Stock Performance

NASDAQ:IPAR traded down $0.56 on Thursday, hitting $137.59. The stock had a trading volume of 47,432 shares, compared to its average volume of 144,479. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $156.75. 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 stock has a market cap of $4.41 billion, a price-to-earnings ratio of 29.65 and a beta of 1.20. The business's 50-day simple moving average is $127.72 and its two-hundred day simple moving average is $124.48.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.10. The company had revenue of $425.00 million for 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%. The firm's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 EPS. As a group, research analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Insider Activity at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 43.90% of the stock is owned by corporate insiders.

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.