Advisors Asset Management Inc. Sells 4,308 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Advisors Asset Management Inc. trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 18.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,582 shares of the company’s stock after selling 4,308 shares during the period. Advisors Asset Management Inc. owned about 0.06% of Inter Parfums worth $2,611,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IPAR. Norges Bank bought a new stake in Inter Parfums in the 4th quarter worth about $32,493,000. Artisan Partners Limited Partnership bought a new position in shares of Inter Parfums during the 4th quarter valued at approximately $16,226,000. First Trust Advisors LP grew its position in shares of Inter Parfums by 43.0% during the 4th quarter. First Trust Advisors LP now owns 201,643 shares of the company’s stock valued at $29,039,000 after acquiring an additional 60,606 shares during the period. Cerity Partners LLC bought a new position in shares of Inter Parfums during the 4th quarter valued at approximately $6,624,000. Finally, Intrinsic Edge Capital Management LLC grew its position in shares of Inter Parfums by 36.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 117,768 shares of the company’s stock valued at $16,960,000 after acquiring an additional 31,518 shares during the period. 55.57% of the stock is owned by institutional investors.

Inter Parfums Price Performance

NASDAQ IPAR traded up $1.94 on Friday, hitting $137.98. The stock had a trading volume of 124,288 shares, compared to its average volume of 162,922. Inter Parfums, Inc. has a 52-week low of $108.39 and a 52-week high of $156.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.43 and a current ratio of 2.75. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 31.79 and a beta of 1.18. The firm has a 50-day moving average of $119.50 and a 200-day moving average of $130.13.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The firm had revenue of $323.96 million during the quarter, compared to analysts’ expectations of $324.00 million. During the same quarter in the prior year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts expect that Inter Parfums, Inc. will post 5.15 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IPAR shares. StockNews.com downgraded shares of Inter Parfums from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson reissued a “buy” rating and set a $192.00 target price on shares of Inter Parfums in a research report on Monday, July 22nd. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Thursday, May 9th. Piper Sandler restated an “overweight” rating and set a $151.00 price target (up from $150.00) on shares of Inter Parfums in a research note on Tuesday. Finally, 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inter Parfums has an average rating of “Moderate Buy” and a consensus price target of $163.75.

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.