Maryland State Retirement & Pension System Sells 171 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Posted by Defense World Staff on Jul 6th, 2023

Maryland State Retirement & Pension System decreased its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR – Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,189 shares of the company’s stock after selling 171 shares during the period. Maryland State Retirement & Pension System’s holdings in Inter Parfums were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its stake in Inter Parfums by 431.0% in the 4th quarter. Morgan Stanley now owns 1,018,907 shares of the company’s stock worth $98,345,000 after purchasing an additional 827,032 shares during the period. Loomis Sayles & Co. L P acquired a new position in Inter Parfums in the 1st quarter worth $19,936,000. Norges Bank acquired a new position in Inter Parfums in the 4th quarter worth $13,092,000. Renaissance Technologies LLC boosted its stake in Inter Parfums by 1,014.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,313 shares of the company’s stock worth $8,059,000 after purchasing an additional 100,413 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Inter Parfums by 15.2% in the 4th quarter. Copeland Capital Management LLC now owns 741,930 shares of the company’s stock worth $71,611,000 after purchasing an additional 97,684 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IPAR. Piper Sandler upped their target price on shares of Inter Parfums from $170.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. DA Davidson boosted their price target on shares of Inter Parfums from $176.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, April 21st. Finally, StockNews.com cut shares of Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.25.

Inter Parfums Trading Down 1.5 %

Shares of NASDAQ:IPAR opened at $135.14 on Thursday. The company’s 50-day moving average price is $136.88 and its two-hundred day moving average price is $128.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.35 and a quick ratio of 1.46. Inter Parfums, Inc. has a one year low of $68.86 and a one year high of $161.17. The stock has a market capitalization of $4.33 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07.

Inter Parfums (NASDAQ:IPAR – Free Report) last issued its earnings results on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.29. The company had revenue of $311.72 million for the quarter, compared to analysts’ expectations of $312.07 million. Inter Parfums had a net margin of 12.17% and a return on equity of 18.87%. Inter Parfums’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, equities analysts forecast that Inter Parfums, Inc. will post 4.25 EPS for the current fiscal year.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $139.73, for a total value of $139,730.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 44.20% of the stock is owned by insiders.

Inter Parfums Profile

(Free Report)

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.