Mirae Asset Global Investments Co. Ltd. Takes Position in Interparfums, Inc. (NASDAQ:IPAR)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,617 shares of the company's stock, valued at approximately $1,714,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPAR. Vanguard Group Inc. lifted its holdings in 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 during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Interparfums by 10.7% in 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 period. Victory Capital Management Inc. lifted its holdings in Interparfums 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 buying an additional 200,079 shares during the period. American Century Companies Inc. lifted its holdings in Interparfums by 23.3% in the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock worth $59,705,000 after buying an additional 85,871 shares during the period. Finally, Invesco Ltd. lifted its holdings in Interparfums by 4.1% in the fourth quarter. Invesco Ltd. now owns 362,518 shares of the company's stock worth $47,675,000 after buying an additional 14,254 shares during the period. 55.57% of the stock is owned by institutional investors.

Interparfums Stock Down 1.8%

Shares of IPAR stock traded down $2.50 during trading hours on Monday, hitting $136.05. 196,694 shares of the company's stock traded hands, compared to its average volume of 191,533. Interparfums, Inc. has a 12-month low of $97.65 and a 12-month high of $148.15. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 26.47 and a beta of 1.36. The stock's fifty day simple moving average is $130.12 and its two-hundred day simple moving average is $127.67. The company has a quick ratio of 1.68, a current ratio of 2.97 and a debt-to-equity ratio of 0.11.

Interparfums (NASDAQ:IPAR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.19. Interparfums had a net margin of 11.30% and a return on equity of 17.62%. The company had revenue of $339.00 million during the quarter, compared to analyst estimates of $329.21 million. During the same period in the previous year, the business earned $1.27 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that Interparfums, Inc. will post 5.14 EPS for the current year.

Insider Buying and Selling

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $133.96, for a total transaction of $53,584.00. Following the completion of the sale, the director directly owned 1,550 shares of the company's stock, valued at approximately $207,638. This trade represents a 20.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,900 shares of company stock worth $376,039 in the last three months. Insiders own 43.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on IPAR shares. DA Davidson restated a "buy" rating and issued a $170.00 price objective on shares of Interparfums in a report on Tuesday, March 25th. Piper Sandler reiterated an "overweight" rating and set a $138.00 target price (down from $169.00) on shares of Interparfums in a report on Thursday, April 24th. Finally, BWS Financial reiterated a "buy" rating and set a $172.00 target price on shares of Interparfums in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $157.60.

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.