Algert Global LLC Decreases Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

Algert Global LLC trimmed its holdings in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 7.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,156 shares of the company’s stock after selling 5,408 shares during the quarter. Algert Global LLC’s holdings in Inter Parfums were worth $8,436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CWM LLC grew its holdings in Inter Parfums by 44.4% during the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after purchasing an additional 88 shares during the last quarter. Blue Trust Inc. grew its holdings in Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock valued at $84,000 after purchasing an additional 296 shares during the last quarter. Mendota Financial Group LLC bought a new position in Inter Parfums in the 2nd quarter worth about $89,000. Crossmark Global Holdings Inc. bought a new position in Inter Parfums in the 3rd quarter worth about $209,000. Finally, Choreo LLC bought a new position in Inter Parfums in the 2nd quarter worth about $213,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Inter Parfums Trading Up 2.6 %

NASDAQ:IPAR opened at $134.07 on Friday. Inter Parfums, Inc. has a 52 week low of $108.39 and a 52 week high of $156.75. The firm has a 50 day moving average of $123.92 and a 200 day moving average of $122.94. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 28.77 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. During the same quarter in the prior year, the company posted $1.66 earnings per share. Inter Parfums’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IPAR has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.50.

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.