Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,757 shares of the company's stock after selling 17,044 shares during the period. Millennium Management LLC owned 0.11% of Inter Parfums worth $4,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IPAR. Barclays PLC raised its position in shares of Inter Parfums by 293.0% during the 3rd quarter. Barclays PLC now owns 34,689 shares of the company's stock valued at $4,492,000 after buying an additional 25,862 shares during the period. SG Americas Securities LLC raised its position in shares of Inter Parfums by 282.6% during the 4th quarter. SG Americas Securities LLC now owns 7,506 shares of the company's stock valued at $987,000 after buying an additional 5,544 shares during the period. Blue Trust Inc. raised its position in shares of Inter Parfums by 25.7% during the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock valued at $106,000 after buying an additional 167 shares during the period. OLD National Bancorp IN raised its position in shares of Inter Parfums by 2.5% during the 4th quarter. OLD National Bancorp IN now owns 10,087 shares of the company's stock valued at $1,327,000 after buying an additional 246 shares during the period. Finally, Laurus Investment Counsel Inc. purchased a new stake in shares of Inter Parfums during the 4th quarter valued at approximately $1,140,000. Hedge funds and other institutional investors own 55.57% of the company's stock.

Insider Transactions at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total transaction of $183,225.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 43.90% of the company's stock.

Inter Parfums Trading Up 0.7%

NASDAQ IPAR traded up $0.95 on Friday, reaching $136.01. The stock had a trading volume of 294,697 shares, compared to its average volume of 188,311. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 29.19 and a beta of 1.33. 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 12-month low of $97.65 and a 12-month high of $148.15. The stock has a fifty day moving average price of $115.52 and a two-hundred day moving average price of $127.39.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. The company had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 earnings per share. As a group, sell-side analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on IPAR. BWS Financial reaffirmed a "buy" rating and set a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, May 7th. DA Davidson reaffirmed a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Piper Sandler reaffirmed an "overweight" rating and set a $138.00 price target (down previously from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Inter Parfums currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.60.

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.