Inter Parfums, Inc. (NASDAQ:IPAR) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,069 shares of the company’s stock after acquiring an additional 11,588 shares during the period. Envestnet Asset Management Inc.’s holdings in Inter Parfums were worth $18,805,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IPAR. UniSuper Management Pty Ltd purchased a new position in Inter Parfums in the first quarter valued at about $638,000. Annex Advisory Services LLC lifted its holdings in shares of Inter Parfums by 26.9% during the 1st quarter. Annex Advisory Services LLC now owns 53,111 shares of the company’s stock valued at $7,463,000 after buying an additional 11,259 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Inter Parfums by 6.0% in the 1st quarter. Bessemer Group Inc. now owns 85,990 shares of the company’s stock valued at $12,082,000 after buying an additional 4,880 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Inter Parfums during the fourth quarter valued at approximately $16,226,000. Finally, Empowered Funds LLC bought a new position in Inter Parfums during the first quarter valued at approximately $1,018,000. 55.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 43.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IPAR shares. Piper Sandler restated an “overweight” rating and set a $151.00 price target (up previously from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. DA Davidson restated a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a report on Friday, September 13th. Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Friday, July 12th. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Inter Parfums Stock Up 1.1 %

Shares of IPAR stock opened at $120.86 on Tuesday. The stock’s 50 day simple moving average is $126.44 and its 200 day simple moving average is $124.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 27.85 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. As a group, research analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current 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.