Edgestream Partners L.P. Takes $660,000 Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Edgestream Partners L.P. purchased a new stake in Inter Parfums, Inc. (NASDAQ:IPAR) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 5,095 shares of the company’s stock, valued at approximately $660,000.

Several other large investors also recently bought and sold shares of the company. CWM LLC raised its position in shares of Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after acquiring an additional 296 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in shares of Inter Parfums in the third quarter valued at about $104,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the third quarter worth about $209,000. Finally, Choreo LLC purchased a new stake in shares of Inter Parfums during the 2nd quarter valued at approximately $213,000. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 43.90% of the company’s stock.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $136.86 on Friday. The firm has a 50 day moving average of $127.00 and a two-hundred day moving average of $123.93. The stock has a market capitalization of $4.38 billion, a PE ratio of 29.37 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 52 week low of $108.39 and a 52 week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The business had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $425.00 million. During the same period last year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research note on Tuesday. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday, November 11th. Finally, Piper Sandler boosted their price objective on Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Inter Parfums currently has an average rating of “Moderate Buy” and an average target price of $159.75.

Inter Parfums Company 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.