Envestnet Asset Management Inc. Sells 5,618 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. decreased its position in Inter Parfums, Inc. (NASDAQ:IPAR – Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 97,296 shares of the company’s stock after selling 5,618 shares during the period. Envestnet Asset Management Inc. owned about 0.30% of Inter Parfums worth $13,839,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Biltmore Wealth Management LLC bought a new stake in shares of Inter Parfums in the fourth quarter worth about $350,862,000. BNP Paribas Arbitrage SA raised its holdings in shares of Inter Parfums by 1.2% during the second quarter. BNP Paribas Arbitrage SA now owns 11,253 shares of the company’s stock valued at $822,000 after acquiring an additional 135 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Inter Parfums by 4.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,331 shares of the company’s stock worth $321,000 after acquiring an additional 142 shares during the period. Arizona State Retirement System boosted its holdings in Inter Parfums by 2.7% in the first quarter. Arizona State Retirement System now owns 5,541 shares of the company’s stock valued at $788,000 after acquiring an additional 148 shares in the last quarter. Finally, KBC Group NV increased its position in Inter Parfums by 2.5% during the 1st quarter. KBC Group NV now owns 6,179 shares of the company’s stock valued at $879,000 after purchasing an additional 148 shares during the period. 55.18% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Stock Up 0.7 %

Shares of NASDAQ:IPAR opened at $140.73 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $137.41 and a two-hundred day simple moving average of $137.66. Inter Parfums, Inc. has a 12-month low of $72.47 and a 12-month high of $161.17. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 1.99 and a beta of 1.07.

Inter Parfums (NASDAQ:IPAR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.20. The firm had revenue of $309.24 million during the quarter, compared to analyst estimates of $309.00 million. Inter Parfums had a return on equity of 19.06% and a net margin of 12.13%. Inter Parfums’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, research analysts anticipate that Inter Parfums, Inc. will post 4.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IPAR. Piper Sandler lifted their target price on shares of Inter Parfums from $170.00 to $174.00 in a research note on Tuesday, July 25th. DA Davidson reiterated a “buy” rating and set a $187.00 target price on shares of Inter Parfums in a report on Thursday, August 10th. Finally, StockNews.com started coverage on Inter Parfums in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average price target of $159.25.

Get Our Latest Analysis on Inter Parfums

Insider Buying and Selling

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,000 shares of Inter Parfums stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $139.73, for a total value of $139,730.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 43.90% of the stock is owned by company insiders.

Inter Parfums Company 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.