Orion Portfolio Solutions LLC Takes Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Orion Portfolio Solutions LLC acquired a new position in Inter Parfums, Inc. (NASDAQ:IPAR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,800 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Inter Parfums by 44.2% during the 3rd quarter. Wellington Management Group LLP now owns 323,863 shares of the company’s stock worth $41,934,000 after purchasing an additional 99,316 shares during the period. State Street Corp lifted its position in Inter Parfums by 0.3% in the third quarter. State Street Corp now owns 676,253 shares of the company’s stock valued at $87,561,000 after buying an additional 2,255 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Inter Parfums by 15.0% during the third quarter. Janus Henderson Group PLC now owns 33,822 shares of the company’s stock worth $4,380,000 after buying an additional 4,411 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Inter Parfums during the third quarter valued at about $3,111,000. Finally, HighTower Advisors LLC raised its stake in shares of Inter Parfums by 15.7% in the 3rd quarter. HighTower Advisors LLC now owns 2,966 shares of the company’s stock valued at $384,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IPAR shares. DA Davidson reaffirmed a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research report on Wednesday. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, November 11th. Finally, Piper Sandler lifted their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus price target of $159.75.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Price Performance

Shares of IPAR opened at $130.32 on Friday. The company has a market cap of $4.17 billion, a P/E ratio of 27.97 and a beta of 1.20. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $129.06 and its 200 day moving average price is $125.04.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, research analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

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.