Victory Capital Management Inc. Raises Stake in Interparfums, Inc. (NASDAQ:IPAR)

Victory Capital Management Inc. boosted its holdings in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 715,004 shares of the company's stock after buying an additional 151,358 shares during the quarter. Victory Capital Management Inc. owned 2.23% of Interparfums worth $81,418,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of Interparfums by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 89,580 shares of the company's stock valued at $10,200,000 after purchasing an additional 2,041 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Interparfums in the 1st quarter valued at approximately $1,714,000. Legal & General Group Plc increased its position in shares of Interparfums by 7.9% in the 4th quarter. Legal & General Group Plc now owns 53,264 shares of the company's stock valued at $7,005,000 after purchasing an additional 3,911 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Interparfums by 6.4% in the 1st quarter. Fifth Third Bancorp now owns 3,783 shares of the company's stock valued at $431,000 after buying an additional 226 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Interparfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company's stock valued at $269,677,000 after buying an additional 20,721 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Interparfums Stock Performance

Interparfums stock traded down $0.97 during midday trading on Friday, hitting $129.50. 216,218 shares of the company's stock were exchanged, compared to its average volume of 192,055. Interparfums, Inc. has a 12-month low of $97.65 and a 12-month high of $148.15. 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 market cap of $4.16 billion, a price-to-earnings ratio of 25.19 and a beta of 1.36. The firm's 50 day simple moving average is $133.53 and its 200 day simple moving average is $127.83.

Interparfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $339.00 million for the quarter, compared to the consensus estimate of $329.21 million. During the same period last year, the firm posted $1.27 EPS. Interparfums's revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that Interparfums, Inc. will post 5.14 EPS for the current year.

Insider Transactions at Interparfums

In other news, Director Gilbert Harrison sold 400 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $133.96, for a total value of $53,584.00. Following the completion of the sale, the director owned 1,550 shares in the company, valued at approximately $207,638. This trade represents a 20.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philippe Santi sold 1,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total transaction of $139,230.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,900 shares of company stock worth $376,039. Company insiders own 43.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on IPAR. DA Davidson reaffirmed a "buy" rating and issued a $170.00 target price on shares of Interparfums in a research report on Tuesday, March 25th. BWS Financial reaffirmed a "buy" rating and issued a $172.00 target price on shares of Interparfums in a research report on Wednesday, May 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $138.00 price objective (down from $169.00) on shares of Interparfums in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $162.00.

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.