Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 41.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,554 shares of the company’s stock after selling 45,836 shares during the period. Silvercrest Asset Management Group LLC owned 0.20% of Inter Parfums worth $9,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Inter Parfums in the fourth quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Inter Parfums in the fourth quarter valued at $30,000. Whittier Trust Co. bought a new position in Inter Parfums during the first quarter valued at about $31,000. Signaturefd LLC boosted its stake in Inter Parfums by 87.4% during the fourth quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Inter Parfums during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 55.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $192.00 price objective on shares of Inter Parfums in a research report on Monday, July 22nd. Piper Sandler restated an “overweight” rating and issued a $151.00 price target (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. StockNews.com cut Inter Parfums from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. BWS Financial reissued a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Thursday, May 9th. Finally, Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average price target of $163.75.

Inter Parfums Trading Up 2.6 %

Shares of NASDAQ IPAR opened at $140.08 on Wednesday. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $156.75. The firm has a market capitalization of $4.49 billion, a PE ratio of 32.28 and a beta of 1.18. The company has a current ratio of 2.75, a quick ratio of 1.43 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $119.85 and a two-hundred day moving average price of $129.99.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). Inter Parfums had a return on equity of 15.85% and a net margin of 10.50%. The business had revenue of $323.96 million for the quarter, compared to analyst estimates of $324.00 million. During the same quarter in the previous year, the business posted $1.68 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal 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.