Man Group plc Reduces Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Man Group plc trimmed its position in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 71.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,261 shares of the company's stock after selling 5,622 shares during the quarter. Man Group plc's holdings in Inter Parfums were worth $297,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IPAR. Cetera Investment Advisers boosted its stake in shares of Inter Parfums by 1.7% in the fourth quarter. Cetera Investment Advisers now owns 5,796 shares of the company's stock worth $762,000 after acquiring an additional 96 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Inter Parfums by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company's stock worth $251,000 after buying an additional 121 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Inter Parfums by 7.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company's stock valued at $239,000 after purchasing an additional 124 shares during the last quarter. Level Four Advisory Services LLC lifted its stake in shares of Inter Parfums by 1.9% in the 4th quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company's stock valued at $1,065,000 after purchasing an additional 154 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Inter Parfums by 25.7% in the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock valued at $106,000 after purchasing an additional 167 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm'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 legal filing with the SEC, which is available at the SEC website. 43.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IPAR has been the topic of several research reports. Piper Sandler reissued an "overweight" rating and set a $138.00 target price (down previously from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. BWS Financial reissued a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, May 7th. DA Davidson reissued a "buy" rating and issued a $170.00 target price on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group increased their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.60.

Inter Parfums Price Performance

Shares of IPAR traded up $1.78 during mid-day trading on Thursday, hitting $135.06. The company's stock had a trading volume of 319,939 shares, compared to its average volume of 187,442. Inter Parfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The firm has a market capitalization of $4.34 billion, a P/E ratio of 28.98 and a beta of 1.33. The firm has a 50-day simple moving average of $115.17 and a 200 day simple moving average of $127.33. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.19. The firm had revenue of $339.00 million during the quarter, compared to the consensus estimate of $329.21 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Inter Parfums's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS. Analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Profile

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.