Victory Capital Management Inc. Boosts Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Victory Capital Management Inc. boosted its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,618 shares of the company’s stock after buying an additional 265 shares during the period. Victory Capital Management Inc.’s holdings in Inter Parfums were worth $768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IPAR. Principal Securities Inc. purchased a new position in Inter Parfums in the fourth quarter valued at approximately $30,000. Envestnet Portfolio Solutions Inc. grew its position in Inter Parfums by 8.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,059 shares of the company’s stock valued at $297,000 after acquiring an additional 153 shares in the last quarter. Norges Bank acquired a new stake in Inter Parfums in the fourth quarter valued at approximately $32,493,000. Corient Private Wealth LLC grew its position in Inter Parfums by 37.3% in the fourth quarter. Corient Private Wealth LLC now owns 4,522 shares of the company’s stock valued at $651,000 after acquiring an additional 1,229 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Inter Parfums in the fourth quarter valued at approximately $294,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Insider Buying and Selling

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’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 legal filing with the SEC, which can be accessed through the SEC website. 43.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Inter Parfums Stock Up 0.2 %

IPAR stock opened at $119.49 on Friday. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. 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 company has a market capitalization of $3.83 billion, a P/E ratio of 27.53 and a beta of 1.16. The firm has a 50 day simple moving average of $126.52 and a 200-day simple moving average of $124.88.

Inter Parfums (NASDAQ:IPAR) last released its quarterly 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. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The business had revenue of $342.00 million during the quarter, compared to the consensus estimate of $342.00 million. During the same quarter last year, the company earned $1.09 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

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.