Commonwealth Equity Services LLC Boosts Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Commonwealth Equity Services LLC increased its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,363 shares of the company’s stock after buying an additional 92 shares during the period. Commonwealth Equity Services LLC’s holdings in Inter Parfums were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after acquiring an additional 88 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Inter Parfums by 1.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $1,044,000 after purchasing an additional 100 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Inter Parfums by 84.0% during 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 during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Inter Parfums by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 15,674 shares of the company’s stock worth $2,202,000 after purchasing an additional 203 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Inter Parfums in the fourth quarter valued at $30,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Inter Parfums Stock Performance

Shares of NASDAQ:IPAR opened at $119.49 on Monday. The firm has a market capitalization of $3.83 billion, a PE ratio of 27.53 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 debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27. The business has a 50-day moving average of $126.52 and a two-hundred day moving average of $124.77.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $342.00 million during 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, research analysts forecast that Inter Parfums, Inc. will post 5.15 earnings per share for the current year.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.