Algert Global LLC Has $4.83 Million Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Algert Global LLC lowered its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,761 shares of the company's stock after selling 28,395 shares during the quarter. Algert Global LLC owned approximately 0.11% of Inter Parfums worth $4,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Inter Parfums by 55.9% in the 4th quarter. GAMMA Investing LLC now owns 226 shares of the company's stock worth $30,000 after purchasing an additional 81 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of Inter Parfums by 210.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 512 shares of the company's stock valued at $67,000 after acquiring an additional 347 shares during the period. SRH Advisors LLC boosted its holdings in Inter Parfums by 791.7% in the fourth quarter. SRH Advisors LLC now owns 535 shares of the company's stock valued at $70,000 after acquiring an additional 475 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Inter Parfums by 100.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock worth $105,000 after purchasing an additional 400 shares during the period. Finally, Blue Trust Inc. raised its holdings in Inter Parfums by 25.7% during the 4th quarter. Blue Trust Inc. now owns 818 shares of the company's stock worth $106,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 55.57% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on IPAR. Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Piper Sandler reiterated an "overweight" rating and set a $138.00 target price (down previously from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. BWS Financial restated a "buy" rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Wednesday. Finally, DA Davidson reissued a "buy" rating and set a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.60.

Inter Parfums Stock Down 0.7 %

Shares of Inter Parfums stock traded down $0.86 on Friday, hitting $118.96. The company had a trading volume of 286,959 shares, compared to its average volume of 181,385. The firm has a market capitalization of $3.82 billion, a P/E ratio of 25.53 and a beta of 1.33. Inter Parfums, Inc. has a twelve month low of $97.65 and a twelve month high of $148.15. The stock has a 50-day moving average of $114.37 and a 200-day moving average of $126.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its quarterly earnings data 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. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $339.00 million during the quarter, compared to analysts' expectations of $329.21 million. During the same period in the prior year, the firm earned $1.27 earnings per share. Inter Parfums's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts predict that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. Inter Parfums's dividend payout ratio is 62.26%.

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.