Inter Parfums, Inc. (NASDAQ:IPAR) Stake Trimmed by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 95.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,027 shares of the company's stock after selling 45,314 shares during the quarter. Voloridge Investment Management LLC's holdings in Inter Parfums were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IPAR. Barclays PLC boosted its position in Inter Parfums by 293.0% during the 3rd quarter. Barclays PLC now owns 34,689 shares of the company's stock valued at $4,492,000 after purchasing an additional 25,862 shares during the period. Blue Trust Inc. lifted its stake in Inter Parfums by 25.7% in the fourth quarter. Blue Trust Inc. now owns 818 shares of the company's stock valued at $106,000 after buying an additional 167 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Inter Parfums by 2.5% during the fourth quarter. OLD National Bancorp IN now owns 10,087 shares of the company's stock valued at $1,327,000 after acquiring an additional 246 shares during the period. Laurus Investment Counsel Inc. bought a new position in shares of Inter Parfums during the fourth quarter worth about $1,140,000. Finally, SRH Advisors LLC grew its position in shares of Inter Parfums by 791.7% during the fourth quarter. SRH Advisors LLC now owns 535 shares of the company's stock worth $70,000 after acquiring an additional 475 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IPAR. BWS Financial reissued a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, May 7th. DA Davidson reaffirmed a "buy" rating and set a $170.00 price target on shares of Inter Parfums in a report on Tuesday, March 25th. Canaccord Genuity Group increased their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Piper Sandler restated an "overweight" rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Inter Parfums has an average rating of "Moderate Buy" and a consensus price target of $157.60.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums 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 legal filing with the SEC, which is available at this link. Insiders own 43.90% of the company's stock.

Inter Parfums Price Performance

Inter Parfums stock traded up $0.95 during trading hours on Friday, hitting $136.01. 294,697 shares of the company traded hands, compared to its average volume of 188,678. Inter Parfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The firm has a market cap of $4.37 billion, a P/E ratio of 29.19 and a beta of 1.33. The firm's 50-day simple moving average is $115.52 and its two-hundred day simple moving average is $127.39. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. During the same quarter last year, the business earned $1.27 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Company 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.