Sei Investments Co. Buys 2,549 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Sei Investments Co. boosted its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 4.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,719 shares of the company’s stock after purchasing an additional 2,549 shares during the quarter. Sei Investments Co. owned about 0.17% of Inter Parfums worth $6,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its holdings in shares of Inter Parfums by 68.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,626 shares of the company’s stock worth $305,000 after buying an additional 1,064 shares during the period. Intech Investment Management LLC acquired a new position in Inter Parfums during the 2nd quarter worth $385,000. Inspire Investing LLC boosted its holdings in Inter Parfums by 19.5% during the second quarter. Inspire Investing LLC now owns 3,088 shares of the company’s stock valued at $358,000 after acquiring an additional 504 shares during the period. MQS Management LLC acquired a new stake in shares of Inter Parfums in the second quarter valued at about $246,000. Finally, Hsbc Holdings PLC increased its stake in shares of Inter Parfums by 12.9% in the second quarter. Hsbc Holdings PLC now owns 2,322 shares of the company’s stock worth $267,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Analysts Set New Price Targets

IPAR has been the subject of several recent analyst reports. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. DA Davidson restated a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a research note on Friday, September 13th. BWS Financial reiterated a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Thursday, August 8th. Piper Sandler restated an “overweight” rating and issued a $151.00 price target (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR opened at $129.48 on Tuesday. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 29.83 and a beta of 1.16. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $156.75. The business has a fifty day simple moving average of $126.46 and a 200 day simple moving average of $124.29. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12.

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

Insider Buying and Selling at Inter Parfums

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 value of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 43.90% of the company’s stock.

Inter Parfums 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.