Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,032 shares of the company’s stock after selling 3,606 shares during the quarter. Millennium Management LLC owned 0.26% of Inter Parfums worth $9,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new stake in shares of Inter Parfums in the first quarter worth $31,000. CWM LLC increased its holdings in Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 121 shares in the last quarter. Mendota Financial Group LLC purchased a new position in Inter Parfums in the second quarter valued at about $89,000. Finally, Choreo LLC acquired a new position in shares of Inter Parfums during the second quarter worth about $213,000. Institutional investors and hedge funds own 55.57% of the company’s stock.

Insider Buying and Selling at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 43.90% of the stock is currently owned by insiders.

Inter Parfums Stock Down 1.2 %

IPAR stock opened at $121.51 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $124.98 and a 200-day simple moving average of $123.72. The company has a market capitalization of $3.89 billion, a P/E ratio of 28.00 and a beta of 1.15. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $342.00 million during the quarter, compared to analyst estimates 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 business earned $1.09 EPS. On average, equities research analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Inter Parfums Company 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.