Raymond James Financial Inc. Sells 55,232 Shares of Interparfums, Inc. $IPAR

Key Points

• Raymond James Financial Inc. reduced its stake in Interparfums, Inc. by 18.6%, selling 55,232 shares and retaining a total of 241,855 shares valued at $27.54 million.
• Interparfums recently reported earnings of $0.99 per share, missing the consensus estimate of $1.10, with a revenue decline of 2.3% year-over-year to $333.94 million.
• Institutional investors collectively own 55.57% of Interparfums stock, with recent activity including a 100% stake increase by the Canada Pension Plan Investment Board.

Raymond James Financial Inc. lowered its position in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 241,855 shares of the company's stock after selling 55,232 shares during the quarter. Raymond James Financial Inc. owned about 0.75% of Interparfums worth $27,540,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eukles Asset Management purchased a new position in shares of Interparfums during the first quarter worth about $30,000. CWM LLC lifted its position in Interparfums by 29.4% in the 1st quarter. CWM LLC now owns 418 shares of the company's stock worth $48,000 after buying an additional 95 shares during the last quarter. Blue Trust Inc. lifted its position in Interparfums by 52.0% in the 1st quarter. Blue Trust Inc. now owns 506 shares of the company's stock worth $58,000 after buying an additional 173 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Interparfums in the 1st quarter worth approximately $104,000. Finally, Canada Pension Plan Investment Board lifted its position in Interparfums by 100.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock worth $105,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company's stock.

Insiders Place Their Bets

In other news, Director Gilbert Harrison sold 400 shares of the company's stock in a transaction 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 transaction, the director directly owned 1,550 shares of the company's stock, valued at $207,638. This represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Philippe Santi sold 1,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total value of $139,230.00. The disclosure for this sale can be found here. Corporate insiders own 43.70% of the company's stock.

Interparfums Trading Down 1.5%

Shares of IPAR traded down $1.77 during mid-day trading on Friday, hitting $114.76. 44,369 shares of the company's stock traded hands, compared to its average volume of 236,724. The company has a quick ratio of 1.69, a current ratio of 2.96 and a debt-to-equity ratio of 0.14. Interparfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The firm has a market capitalization of $3.69 billion, a P/E ratio of 23.00 and a beta of 1.43. The business's 50-day moving average price is $125.19 and its 200-day moving average price is $124.31.

Interparfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.11). The firm 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 for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Interparfums has set its FY 2025 guidance at 5.350-5.350 EPS. As a group, sell-side analysts forecast that Interparfums, Inc. will post 5.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a "buy" rating and issued a $172.00 price objective on shares of Interparfums in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $162.00.

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.