Interparfums, Inc. (NASDAQ:IPAR) Shares Purchased by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in Interparfums, Inc. by 31.1%, owning a total of 464,878 shares valued at approximately $52.9 million.
• Interparfums reported earnings per share of $0.99, missing expectations by $0.21, while quarterly revenue declined by 2.3% year-over-year.
• Analysts have set a consensus target price of $162.00 for Interparfums shares, with four analysts rating the stock as a buy and one as a hold.

Westwood Holdings Group Inc. increased its stake in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 31.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,878 shares of the company's stock after purchasing an additional 110,163 shares during the period. Westwood Holdings Group Inc. owned 1.45% of Interparfums worth $52,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IPAR. LPL Financial LLC boosted its stake in Interparfums by 12.9% in the 4th quarter. LPL Financial LLC now owns 9,939 shares of the company's stock worth $1,307,000 after purchasing an additional 1,133 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Interparfums by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 133,816 shares of the company's stock worth $17,598,000 after purchasing an additional 32,741 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Interparfums by 80.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,815 shares of the company's stock worth $633,000 after purchasing an additional 2,140 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Interparfums by 75.6% in the 4th quarter. Alliancebernstein L.P. now owns 49,265 shares of the company's stock worth $6,479,000 after purchasing an additional 21,203 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Interparfums by 3.8% in the 4th quarter. Wells Fargo & Company MN now owns 49,109 shares of the company's stock worth $6,458,000 after purchasing an additional 1,780 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Philippe Santi sold 1,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total transaction of $139,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 2,900 shares of company stock valued at $376,039. 43.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on IPAR. Piper Sandler restated 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. BWS Financial restated a "buy" rating and set a $172.00 price objective on shares of Interparfums in a research note on Wednesday, May 7th.

Interparfums Stock Performance

Shares of IPAR traded down $1.29 during trading hours on Friday, hitting $115.82. The stock had a trading volume of 180,894 shares, compared to its average volume of 243,831. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 23.21 and a beta of 1.43. The firm has a 50-day moving average price of $131.48 and a 200 day moving average price of $126.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.96. Interparfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15.

Interparfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $333.94 million during the quarter, compared to analysts' expectations of $357.58 million. Interparfums had a return on equity of 16.45% and a net margin of 11.03%. Interparfums's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. As a group, research analysts anticipate that Interparfums, Inc. will post 5.14 EPS for the current year.

Interparfums Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Interparfums's payout ratio is presently 64.13%.

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.