Vanguard Group Inc. Reduces Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Vanguard Group Inc. reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,024,470 shares of the company’s stock after selling 3,424 shares during the period. Vanguard Group Inc. owned 0.06% of Inter Parfums worth $291,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPAR. HighTower Advisors LLC increased its stake in shares of Inter Parfums by 23.5% in the third quarter. HighTower Advisors LLC now owns 2,380 shares of the company’s stock worth $317,000 after buying an additional 453 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Inter Parfums during the third quarter valued at approximately $256,000. Mariner LLC grew its stake in Inter Parfums by 32.4% in the third quarter. Mariner LLC now owns 3,687 shares of the company’s stock worth $495,000 after purchasing an additional 903 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Inter Parfums by 26.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 2,183 shares of the company’s stock worth $293,000 after purchasing an additional 453 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Inter Parfums by 10.7% during the third quarter. Advisors Asset Management Inc. now owns 22,842 shares of the company’s stock valued at $3,069,000 after buying an additional 2,202 shares during the period. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $116.03 on Friday. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $156.75. The firm’s 50-day moving average is $118.82 and its 200 day moving average is $132.52. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 26.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.75 and a quick ratio of 1.43.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The firm had revenue of $323.96 million during the quarter, compared to the consensus estimate of $324.00 million. During the same quarter in the prior year, the company posted $1.68 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IPAR has been the topic of a number of recent research reports. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Saturday, June 8th. BWS Financial restated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Thursday, May 9th. Piper Sandler lowered their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, DA Davidson restated a “buy” rating and issued a $192.00 price target on shares of Inter Parfums in a research note on Thursday, May 9th.

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.