The Manufacturers Life Insurance Company Has $1.26 Million Stock Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

The Manufacturers Life Insurance Company lifted its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 2.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,888 shares of the company’s stock after buying an additional 286 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Inter Parfums were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Inter Parfums during the 1st quarter worth about $31,000. Hexagon Capital Partners LLC raised its stake in Inter Parfums by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 121 shares in the last quarter. CWM LLC raised its stake in Inter Parfums by 44.4% in the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in Inter Parfums in the 2nd quarter worth about $89,000. Finally, Benjamin Edwards Inc. raised its stake in Inter Parfums by 49.2% in the 1st quarter. Benjamin Edwards Inc. now owns 1,562 shares of the company’s stock worth $219,000 after purchasing an additional 515 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Insider Activity at Inter Parfums

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

Inter Parfums Trading Up 1.5 %

Shares of Inter Parfums stock opened at $124.13 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 28.60 and a beta of 1.15. 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’s 50 day moving average is $124.11 and its 200 day moving average is $123.63. Inter Parfums, Inc. has a 1 year low of $108.39 and a 1 year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $342.00 million for 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 was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. Equities research analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IPAR. DA Davidson reiterated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research note on Friday, September 13th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and issued 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 issued a $172.00 target price on shares of Inter Parfums in a report on Thursday, August 8th. Finally, Jefferies Financial Group raised shares of 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 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.