Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 235,549 shares of the company’s stock after selling 22,542 shares during the quarter. Inter Parfums makes up 1.1% of Granite Investment Partners LLC’s portfolio, making the stock its 19th biggest position. Granite Investment Partners LLC owned 0.74% of Inter Parfums worth $27,331,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IPAR. Vanguard Group Inc. increased its holdings in Inter Parfums by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock valued at $288,718,000 after buying an additional 30,316 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 during the last quarter. American Century Companies Inc. increased its holdings in Inter Parfums by 50.1% in the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock valued at $36,846,000 after buying an additional 106,044 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in Inter Parfums by 0.4% in the second quarter. Bahl & Gaynor Inc. now owns 253,443 shares of the company’s stock valued at $29,407,000 after buying an additional 1,023 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Inter Parfums by 0.6% in the second quarter. William Blair Investment Management LLC now owns 234,527 shares of the company’s stock valued at $27,212,000 after buying an additional 1,390 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction 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 filing with the SEC, which is available through the SEC website. Company insiders own 43.90% of the company’s stock.

Inter Parfums Stock Performance

IPAR opened at $119.24 on Friday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 27.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75. The business has a 50 day moving average price of $126.72 and a two-hundred day moving average price of $125.12.

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

Wall Street Analyst Weigh In

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