Public Employees Retirement Association of Colorado Cuts Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Public Employees Retirement Association of Colorado lessened its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,482 shares of the company’s stock after selling 371 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Inter Parfums were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 43.90% of the company’s stock.

Inter Parfums Stock Up 0.8 %

IPAR stock opened at $128.24 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 29.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. The business’s 50-day moving average is $126.46 and its two-hundred day moving average is $124.46. Inter Parfums, Inc. has a fifty-two week low of $108.39 and a fifty-two week high of $156.75.

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