Bridgewater Associates LP Decreases Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Bridgewater Associates LP cut its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 63.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,267 shares of the company’s stock after selling 21,341 shares during the quarter. Bridgewater Associates LP’s holdings in Inter Parfums were worth $1,588,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC raised its holdings in Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. raised its holdings in Inter Parfums by 83.4% in the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after buying an additional 296 shares during the last quarter. Mendota Financial Group LLC purchased a new position in Inter Parfums in the second quarter worth about $89,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums in the third quarter worth about $209,000. Finally, Choreo LLC purchased a new position in Inter Parfums in the second quarter worth about $213,000. 55.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of Inter Parfums stock in a transaction that occurred on Friday, November 22nd. The shares were 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 this link. Insiders own 43.90% of the company’s stock.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR opened at $137.66 on Monday. The firm has a 50 day moving average of $125.82 and a 200 day moving average of $123.53. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 29.54 and a beta of 1.16. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month 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, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $425.00 million for the quarter, compared to the consensus estimate of $425.00 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts anticipate that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler reduced their price target on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus price target of $157.50.

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.