Rhumbline Advisers Increases Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Rhumbline Advisers raised its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,335 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Rhumbline Advisers’ holdings in Inter Parfums were worth $6,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Berry Wealth Group LP boosted its holdings in Inter Parfums by 7.4% in the second quarter. Berry Wealth Group LP now owns 1,850 shares of the company’s stock valued at $215,000 after acquiring an additional 128 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Inter Parfums by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock valued at $390,000 after purchasing an additional 92 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Inter Parfums during the second quarter valued at about $296,000. TrueMark Investments LLC bought a new position in Inter Parfums in the second quarter worth about $366,000. Finally, F M Investments LLC purchased a new stake in Inter Parfums in the second quarter worth about $9,328,000. 55.57% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 43.90% of the company’s stock.

Inter Parfums Trading Up 2.2 %

Shares of NASDAQ IPAR opened at $117.54 on Friday. The company has a market cap of $3.76 billion, a PE ratio of 27.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. The firm’s 50 day moving average price is $126.52 and its 200-day moving average price is $126.16. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $342.00 million during the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. During the same quarter last year, the company earned $1.09 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IPAR shares. Piper Sandler reissued an “overweight” rating and issued a $151.00 target price (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. DA Davidson reissued a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research report on Friday. BWS Financial reaffirmed a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Thursday, August 8th. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, July 12th. Finally, StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.