Royce & Associates LP Trims Stake in Interparfums, Inc. (NASDAQ:IPAR)

Royce & Associates LP lowered its holdings in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 23.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,968 shares of the company's stock after selling 128,624 shares during the period. Royce & Associates LP owned approximately 1.28% of Interparfums worth $46,683,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Interparfums by 2.3% during the first quarter. Principal Financial Group Inc. now owns 89,580 shares of the company's stock worth $10,200,000 after acquiring an additional 2,041 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Interparfums in the first quarter worth approximately $1,714,000. Envestnet Asset Management Inc. lifted its stake in shares of Interparfums by 10.6% in the first quarter. Envestnet Asset Management Inc. now owns 122,594 shares of the company's stock worth $13,960,000 after buying an additional 11,784 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Interparfums by 7.9% in the fourth quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock worth $7,005,000 after buying an additional 3,911 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Interparfums by 6.4% in the first quarter. Fifth Third Bancorp now owns 3,783 shares of the company's stock worth $431,000 after buying an additional 226 shares in the last quarter. Institutional investors own 55.57% of the company's stock.

Insider Activity

In other news, VP Philippe Santi sold 1,000 shares of the business's stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert Harrison sold 400 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were 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. The trade was a 20.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,900 shares of company stock valued at $376,039 over the last three months. Insiders own 43.90% of the company's stock.

Wall Street Analysts Forecast Growth

IPAR has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $138.00 target price (down previously from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. BWS Financial reiterated a "buy" rating and issued a $172.00 target price on shares of Interparfums in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Interparfums currently has an average rating of "Moderate Buy" and a consensus target price of $162.00.

Interparfums Stock Performance

Shares of IPAR traded down $0.95 during mid-day trading on Friday, hitting $121.05. 180,822 shares of the company traded hands, compared to its average volume of 201,078. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.68 and a current ratio of 2.97. The stock has a 50-day moving average price of $133.80 and a two-hundred day moving average price of $127.75. Interparfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 23.55 and a beta of 1.36.

Interparfums (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. Interparfums had a net margin of 11.30% and a return on equity of 17.62%. The firm had revenue of $339.00 million during the quarter, compared to analysts' expectations of $329.21 million. During the same period in the previous year, the company earned $1.27 earnings per share. The firm's quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that Interparfums, Inc. will post 5.14 earnings per share for the current year.

Interparfums 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.