Park Avenue Securities LLC Raises Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Park Avenue Securities LLC boosted its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 12.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,872 shares of the company’s stock after buying an additional 326 shares during the period. Park Avenue Securities LLC’s holdings in Inter Parfums were worth $378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of Inter Parfums by 12.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,322 shares of the company’s stock valued at $267,000 after acquiring an additional 266 shares during the period. Intech Investment Management LLC acquired a new stake in Inter Parfums in the 2nd quarter valued at $385,000. Sei Investments Co. raised its position in Inter Parfums by 4.8% in the second quarter. Sei Investments Co. now owns 55,719 shares of the company’s stock valued at $6,465,000 after purchasing an additional 2,549 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Inter Parfums by 7.5% during the second quarter. Public Sector Pension Investment Board now owns 39,459 shares of the company’s stock worth $4,578,000 after purchasing an additional 2,749 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Inter Parfums by 2.5% in the second quarter. Bank of Montreal Can now owns 5,924 shares of the company’s stock worth $708,000 after buying an additional 142 shares during the period. 55.57% of the stock is owned by institutional investors and hedge funds.

Inter Parfums Stock Down 0.6 %

Shares of NASDAQ:IPAR opened at $140.91 on Friday. The firm has a market cap of $4.51 billion, a PE ratio of 30.24 and a beta of 1.20. The company has a fifty day simple moving average of $134.15 and a 200 day simple moving average of $128.30. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. 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 earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 EPS. On average, equities research analysts anticipate that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction 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 legal filing with the SEC, which is available through the SEC website. 43.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on IPAR. Canaccord Genuity Group initiated coverage on Inter Parfums in a research report on Thursday, January 16th. They set a “buy” rating and a $158.00 price target on the stock. Piper Sandler boosted their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research note on Thursday. Finally, BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.40.

Inter Parfums 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.