Los Angeles Capital Management LLC Reduces Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Los Angeles Capital Management LLC lessened its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 58.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,857 shares of the company’s stock after selling 12,429 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Inter Parfums were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of IPAR. Norges Bank purchased a new position in shares of Inter Parfums during the 4th quarter valued at $32,493,000. Invesco Ltd. lifted its stake in shares of Inter Parfums by 94.4% during the 3rd quarter. Invesco Ltd. now owns 276,433 shares of the company’s stock valued at $37,136,000 after buying an additional 134,243 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Inter Parfums during the 4th quarter valued at $16,226,000. First Trust Advisors LP lifted its stake in shares of Inter Parfums by 43.0% during the 4th quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock valued at $29,039,000 after buying an additional 60,606 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Inter Parfums during the 4th quarter valued at $6,624,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Stock Performance

Inter Parfums stock opened at $112.51 on Monday. The company’s 50-day moving average price is $119.63 and its 200-day moving average price is $133.09. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. The company has a quick ratio of 1.43, a current ratio of 2.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.60 billion, a PE ratio of 25.92 and a beta of 1.17.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The business had revenue of $323.96 million during the quarter, compared to the consensus estimate of $324.00 million. During the same quarter last year, the firm earned $1.68 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IPAR has been the topic of a number of analyst reports. DA Davidson restated a “buy” rating and set a $192.00 target price on shares of Inter Parfums in a research note on Thursday, May 9th. BWS Financial reiterated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a report on Thursday, May 9th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Saturday, June 8th. Finally, Piper Sandler reduced their price target on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th.

About Inter Parfums

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.