Public Sector Pension Investment Board Buys 2,749 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Public Sector Pension Investment Board raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,459 shares of the company’s stock after acquiring an additional 2,749 shares during the period. Public Sector Pension Investment Board’s holdings in Inter Parfums were worth $4,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Inter Parfums by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock worth $288,718,000 after purchasing an additional 30,316 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Inter Parfums by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock valued at $85,384,000 after buying an additional 4,862 shares in the last quarter. American Century Companies Inc. grew its stake in Inter Parfums by 50.1% during the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock worth $36,846,000 after buying an additional 106,044 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in Inter Parfums by 0.4% during the second quarter. Bahl & Gaynor Inc. now owns 253,443 shares of the company’s stock worth $29,407,000 after buying an additional 1,023 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Inter Parfums by 0.6% during the second quarter. William Blair Investment Management LLC now owns 234,527 shares of the company’s stock worth $27,212,000 after buying an additional 1,390 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Inter Parfums Trading Up 3.4 %

Shares of IPAR opened at $127.18 on Friday. The stock’s fifty day simple moving average is $126.37 and its 200-day simple moving average is $124.54. The firm has a market capitalization of $4.07 billion, a PE ratio of 29.30 and a beta of 1.16. Inter Parfums, Inc. has a 12-month low of $108.39 and a 12-month high of $156.75. The company has a quick ratio of 1.27, a current ratio of 2.58 and a debt-to-equity ratio of 0.12.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. As a group, research analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 43.90% of the company’s stock.

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.