Inter Parfums, Inc. (NASDAQ:IPAR) Stock Position Lifted by Berry Wealth Group LP

Berry Wealth Group LP lifted its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,197 shares of the company’s stock after acquiring an additional 347 shares during the quarter. Berry Wealth Group LP’s holdings in Inter Parfums were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IPAR. American Century Companies Inc. boosted its holdings in Inter Parfums by 50.1% in the second quarter. American Century Companies Inc. now owns 317,556 shares of the company’s stock worth $36,846,000 after purchasing an additional 106,044 shares during the period. F M Investments LLC bought a new stake in shares of Inter Parfums during the 2nd quarter valued at about $9,328,000. Burney Co. bought a new stake in shares of Inter Parfums during the 1st quarter valued at about $5,327,000. Vanguard Group Inc. raised its stake in Inter Parfums by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,054,786 shares of the company’s stock worth $288,718,000 after acquiring an additional 30,316 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Inter Parfums by 541.7% during the second quarter. Squarepoint Ops LLC now owns 29,056 shares of the company’s stock valued at $3,371,000 after purchasing an additional 24,528 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on IPAR. DA Davidson reissued a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a report on Friday, September 13th. Piper Sandler reissued 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. BWS Financial reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Thursday, August 8th. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Friday, July 12th. Finally, StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Inter Parfums Stock Performance

Shares of NASDAQ IPAR traded down $0.20 during midday trading on Monday, reaching $120.42. 25,802 shares of the company traded hands, compared to its average volume of 143,509. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 27.79 and a beta of 1.15. The stock has a 50-day moving average price of $122.97 and a 200 day moving average price of $122.84. 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 0.12, a current ratio of 2.58 and a quick ratio of 1.27.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $342.00 million for the quarter, compared to the consensus estimate of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. Inter Parfums’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 43.90% of the stock is currently owned by insiders.

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.