Burney Co. Has $899,000 Stock Holdings in Interparfums, Inc. (NASDAQ:IPAR)

Burney Co. cut its holdings in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 26.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,897 shares of the company's stock after selling 2,800 shares during the quarter. Burney Co.'s holdings in Interparfums were worth $899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. purchased a new stake in shares of Interparfums during the fourth quarter worth approximately $46,649,000. Raymond James Financial Inc. purchased a new stake in shares of Interparfums during the fourth quarter worth approximately $39,070,000. Norges Bank purchased a new stake in shares of Interparfums during the fourth quarter worth approximately $32,095,000. Victory Capital Management Inc. increased its position in shares of Interparfums by 26.9% during the first quarter. Victory Capital Management Inc. now owns 715,004 shares of the company's stock worth $81,418,000 after purchasing an additional 151,358 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Interparfums by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock worth $147,913,000 after purchasing an additional 108,321 shares in the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Interparfums Price Performance

NASDAQ IPAR traded down $0.95 during mid-day trading on Friday, hitting $121.05. The stock had a trading volume of 180,822 shares, compared to its average volume of 201,078. Interparfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 23.55 and a beta of 1.36. The company has a 50 day simple moving average of $133.80 and a 200 day simple moving average of $127.75. The company has a quick ratio of 1.68, a current ratio of 2.97 and a debt-to-equity ratio of 0.11.

Interparfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. Interparfums had a return on equity of 17.62% and a net margin of 11.30%. The company had revenue of $339.00 million during the quarter, compared to the consensus estimate of $329.21 million. During the same quarter last year, the business posted $1.27 earnings per share. Interparfums's revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Interparfums, Inc. will post 5.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPAR. Piper Sandler restated an "overweight" rating and issued a $138.00 target price (down from $169.00) on shares of Interparfums in a report on Thursday, April 24th. BWS Financial restated a "buy" rating and issued a $172.00 target price on shares of Interparfums in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Insider Transactions at Interparfums

In related news, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $133.96, for a total value of $53,584.00. Following the transaction, the director owned 1,550 shares in the company, valued at approximately $207,638. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Veronique Gabai-Pinsky sold 1,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total value of $183,225.00. The disclosure for this sale can be found here. Insiders have sold 2,900 shares of company stock worth $376,039 over the last quarter. 43.90% of the stock is currently owned by insiders.

About Interparfums

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.