Virtu Financial LLC Makes New Investment in Interparfums, Inc. (NASDAQ:IPAR)

Key Points

• Virtu Financial LLC has made a new investment in Interparfums, purchasing 5,130 shares valued at approximately $584,000 in the first quarter.
• Several institutional investors increased their stakes in Interparfums, with Charles Schwab Investment Management Inc. boosting its holdings by 251.4%.
• Interparfums announced a quarterly dividend of $0.80 per share, set to be paid on September 30th, representing an annual yield of 2.7%.

Virtu Financial LLC purchased a new position in shares of Interparfums, Inc. (NASDAQ:IPAR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,130 shares of the company's stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IPAR. CWM LLC boosted its position in shares of Interparfums by 29.4% during the first quarter. CWM LLC now owns 418 shares of the company's stock valued at $48,000 after buying an additional 95 shares during the period. Cetera Investment Advisers lifted its stake in shares of Interparfums by 1.7% during the 4th 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. PNC Financial Services Group Inc. boosted its holdings in Interparfums by 5.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,823 shares of the company's stock valued at $208,000 after acquiring an additional 98 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Interparfums by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company's stock valued at $251,000 after purchasing an additional 121 shares during the period. Finally, Sherbrooke Park Advisers LLC grew its holdings in shares of Interparfums by 6.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 2,249 shares of the company's stock worth $296,000 after purchasing an additional 130 shares during the last quarter. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on IPAR. Piper Sandler reissued an "overweight" rating and issued a $138.00 price objective (down previously from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. BWS Financial restated a "buy" rating and set a $172.00 price target on shares of Interparfums in a research note on Wednesday, May 7th.

Insider Buying and Selling

In other news, Director Gilbert Harrison sold 400 shares of Interparfums stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $133.96, for a total value of $53,584.00. Following the sale, the director owned 1,550 shares in the company, valued at $207,638. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Philippe Santi sold 1,000 shares of the stock in a transaction on 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 Stock Performance

NASDAQ:IPAR traded down $2.21 during trading hours on Friday, hitting $112.80. 237,930 shares of the company were exchanged, compared to its average volume of 264,759. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.96 and a quick ratio of 1.69. Interparfums, Inc. has a 52-week low of $97.65 and a 52-week high of $148.15. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 22.61 and a beta of 1.43. The company's 50 day moving average price is $129.33 and its 200-day moving average price is $125.85.

Interparfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). The business had revenue of $333.94 million during the quarter, compared to analysts' expectations of $357.58 million. Interparfums had a net margin of 11.03% and a return on equity of 16.45%. The firm's revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Interparfums, Inc. will post 5.14 earnings per share for the current year.

Interparfums Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 2.8%. Interparfums's dividend payout ratio is currently 64.13%.

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.