WCM Investment Management LLC Reduces Stock Holdings in Interparfums, Inc. (NASDAQ:IPAR)

WCM Investment Management LLC lowered its stake in Interparfums, Inc. (NASDAQ:IPAR - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,615 shares of the company's stock after selling 10,611 shares during the quarter. WCM Investment Management LLC owned about 0.54% of Interparfums worth $20,475,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IPAR. Bank of New York Mellon Corp lifted its holdings in shares of Interparfums by 17.2% in the 4th quarter. Bank of New York Mellon Corp now owns 291,575 shares of the company's stock worth $38,345,000 after acquiring an additional 42,692 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Interparfums by 23.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,650 shares of the company's stock valued at $215,000 after purchasing an additional 310 shares during the period. Steward Partners Investment Advisory LLC raised its position in Interparfums by 36.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company's stock valued at $540,000 after purchasing an additional 1,095 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Interparfums by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,060 shares of the company's stock worth $26,178,000 after purchasing an additional 8,729 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in shares of Interparfums by 18.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company's stock worth $42,326,000 after buying an additional 50,247 shares during the period. Hedge funds and other institutional investors own 55.57% of the company's stock.

Insiders Place Their Bets

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Philippe Santi sold 1,000 shares of Interparfums stock in a transaction dated Tuesday, June 10th. The stock was 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. Insiders sold 2,900 shares of company stock worth $376,039 in the last 90 days. Corporate insiders own 43.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IPAR. BWS Financial reiterated a "buy" rating and issued a $172.00 price objective on shares of Interparfums in a report on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and set a $138.00 price target (down from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. Finally, DA Davidson reissued a "buy" rating and set a $170.00 price target on shares of Interparfums in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $157.60.

Interparfums Stock Up 0.8%

Shares of NASDAQ IPAR traded up $1.10 during mid-day trading on Friday, hitting $138.51. The company had a trading volume of 114,383 shares, compared to its average volume of 191,512. The company has a market capitalization of $4.45 billion, a PE ratio of 26.95 and a beta of 1.36. The business's 50-day simple moving average is $129.56 and its 200 day simple moving average is $127.63. Interparfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 1.68.

Interparfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The company had revenue of $339.00 million for the quarter, compared to the consensus estimate of $329.21 million. Interparfums had a return on equity of 17.62% and a net margin of 11.30%. Interparfums's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. On average, analysts predict 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.