Sanctuary Advisors LLC Invests $259,000 in Inter Parfums, Inc. (NASDAQ:IPAR)

Sanctuary Advisors LLC acquired a new stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) during the third quarter, HoldingsChannel reports. The firm acquired 1,931 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Inter Parfums by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock valued at $85,384,000 after buying an additional 4,862 shares during the period. State Street Corp boosted its holdings in shares of Inter Parfums by 0.3% in the third quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after acquiring an additional 2,255 shares in the last quarter. Royce & Associates LP increased its stake in shares of Inter Parfums by 0.7% during the third quarter. Royce & Associates LP now owns 595,175 shares of the company’s stock valued at $77,063,000 after acquiring an additional 4,345 shares during the period. Geode Capital Management LLC raised its holdings in Inter Parfums by 1.2% during the third quarter. Geode Capital Management LLC now owns 436,137 shares of the company’s stock worth $56,481,000 after purchasing an additional 5,056 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Inter Parfums by 5,393.6% in the third quarter. Victory Capital Management Inc. now owns 363,567 shares of the company’s stock worth $47,075,000 after purchasing an additional 356,949 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analysts Forecast Growth

IPAR has been the topic of several research analyst reports. Piper Sandler lifted their price target on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Wednesday, December 18th. One 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, the company has an average rating of “Moderate Buy” and a consensus target price of $159.75.

Insider Activity at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 43.90% of the stock is owned by insiders.

Inter Parfums Stock Performance

IPAR opened at $131.06 on Friday. 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 firm has a market cap of $4.20 billion, a PE ratio of 28.12 and a beta of 1.20. The business has a fifty day simple moving average of $130.27 and a 200-day simple moving average of $125.52. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter last year, the business posted $1.66 EPS. Inter Parfums’s revenue was up 15.5% on a year-over-year basis. As a group, equities analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Inter Parfums Company 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.