Envestnet Asset Management Inc. Grows Stock Position in Interparfums, Inc. (NASDAQ:IPAR)

Envestnet Asset Management Inc. lifted its position in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,594 shares of the company's stock after purchasing an additional 11,784 shares during the period. Envestnet Asset Management Inc. owned about 0.38% of Interparfums worth $13,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Interparfums by 2.3% during the first quarter. Principal Financial Group Inc. now owns 89,580 shares of the company's stock worth $10,200,000 after acquiring an additional 2,041 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Interparfums during the 1st quarter valued at about $1,714,000. Legal & General Group Plc grew its position in shares of Interparfums by 7.9% during the fourth quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock valued at $7,005,000 after purchasing an additional 3,911 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Interparfums by 6.4% in the first quarter. Fifth Third Bancorp now owns 3,783 shares of the company's stock worth $431,000 after purchasing an additional 226 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Interparfums by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock worth $269,677,000 after buying an additional 20,721 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

Interparfums Stock Down 0.7%

IPAR stock traded down $0.97 during trading on Friday, reaching $129.50. 216,218 shares of the company traded hands, compared to its average volume of 192,055. Interparfums, Inc. has a 12 month low of $97.65 and a 12 month high of $148.15. The business has a 50 day simple moving average of $133.53 and a 200 day simple moving average of $127.83. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 25.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.68 and a current ratio of 2.97.

Interparfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $329.21 million. During the same period last year, the business posted $1.27 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that Interparfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on IPAR. Piper Sandler reissued an "overweight" rating and set a $138.00 price objective (down from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. DA Davidson reissued a "buy" rating and issued a $170.00 target price on shares of Interparfums in a research note on Tuesday, March 25th. Finally, BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Interparfums in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $162.00.

Insider Activity at Interparfums

In related news, VP Philippe Santi sold 1,000 shares of Interparfums stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $139.23, for a total transaction of $139,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction that occurred on Monday, June 23rd. The shares were 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 of the company's stock, valued at approximately $207,638. This represents a 20.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,900 shares of company stock worth $376,039. 43.90% of the stock is owned by corporate 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.