GAMMA Investing LLC Grows Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

GAMMA Investing LLC grew its holdings in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 13,100.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,834 shares of the company's stock after acquiring an additional 29,608 shares during the quarter. GAMMA Investing LLC owned 0.09% of Inter Parfums worth $33,970,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new position in shares of Inter Parfums in the fourth quarter worth about $46,649,000. Raymond James Financial Inc. acquired a new stake in shares of Inter Parfums in the fourth quarter worth approximately $39,070,000. Norges Bank acquired a new stake in shares of Inter Parfums in the fourth quarter worth approximately $32,095,000. Victory Capital Management Inc. boosted its stake in shares of Inter Parfums by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock worth $74,125,000 after acquiring an additional 200,079 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Inter Parfums 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 buying an additional 108,321 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IPAR. Piper Sandler reissued an "overweight" rating and set a $138.00 price objective (down previously from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. Canaccord Genuity Group boosted their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. DA Davidson reissued a "buy" rating and set a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. Finally, BWS Financial restated a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.60.

Inter Parfums Trading Up 0.9%

NASDAQ:IPAR traded up $1.27 on Friday, reaching $137.93. The company's stock had a trading volume of 128,274 shares, compared to its average volume of 189,391. 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 firm has a market cap of $4.43 billion, a price-to-earnings ratio of 29.60 and a beta of 1.40. Inter Parfums, Inc. has a 12-month low of $97.65 and a 12-month high of $148.15. The stock has a 50 day moving average price of $117.51 and a 200 day moving average price of $127.75.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued 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. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $339.00 million for the quarter, compared to the consensus estimate of $329.21 million. During the same quarter in the prior year, the business earned $1.27 EPS. Inter Parfums's revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Insider Transactions at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company'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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.90% of the company's stock.

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.