Inter Parfums, Inc. (NASDAQ:IPAR) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,069 shares of the company’s stock after purchasing an additional 11,588 shares during the quarter. Envestnet Asset Management Inc. owned 0.51% of Inter Parfums worth $18,805,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IPAR. UniSuper Management Pty Ltd bought a new stake in Inter Parfums in the first quarter valued at $638,000. Annex Advisory Services LLC lifted its stake in Inter Parfums by 26.9% in the first 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. lifted its stake in Inter Parfums by 6.0% in the first 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 during the last quarter. Artisan Partners Limited Partnership bought a new stake in Inter Parfums in the fourth quarter valued at $16,226,000. Finally, Empowered Funds LLC bought a new position in Inter Parfums in the 1st quarter worth about $1,018,000. 55.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 43.90% of the company’s stock.

Inter Parfums Stock Performance

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

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $342.00 million during the quarter, compared to analysts’ expectations of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IPAR shares. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. DA Davidson reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a report on Friday, September 13th. Jefferies Financial Group upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Friday, July 12th. BWS Financial reaffirmed a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $151.00 price objective (up from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Inter Parfums presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.